Retail trades

retail trade

1. RETAIL TRADE Trade in which the sells the goods to consumers according to their requirement.

2. Characteristics of retail trade Goods are sold to ultimate consumers Goods are purchased and sold in small in quantities Varieties of so goods are sold . Direct contact with consumers Area of sale is limited .

3. Function of Retailer forecast the commodities useful to his consumers . Collects varieties of goods from different wholesalers. Sells goods according to the requirement of consumers . Sells on credit basis and provide home delivery services. Collects information related to market Takes risk arising due to decrease in sales ,price of goods.

4. Service of Retailers Service to producers Service to consumers Services of product in small quantities Collecting customers demand Advertising and promotion of product Regular supply of goods Information about product After sale of services Credit facility Ease of buying

5. Itinerant Retailers Fixed shop retailers Hawkers and peddlers Market traders Street traders Cheap traders small retailers Large retailers Stall holders ,general stores single line stores ,specialty shops Departmental stores multiple shops consumer co-operative stores , Super-market . Types of Retailers

6. Itinerant Retailers Hawkers and peddlers : carry goods on their wheeled vehicles . Market traders : Sell merchandise on some selected day of the week Street trader : Display their goods at the busy pavements of corners and sell the goods to public.

7. Small Retailers Stall holders : Open wooden stalls .goods sold are snacks ,tea &many more. General stores : stores remain open for long hours, provide credit facility ,home delivery. Specialty shop : Focus on specific needs of customers.

8. Large Retailers Departmental stores : Big retail store with different department or sections or dealing in different line of product forming a complete unit in itself.

9. Multiple shops/chain stores: One organization sets up shops in different localities of the city or in different cities. Ex-SUBWAY.

10. Consumer co-operative stores Stores are operate and controlled by consumers themselves.

11. Super Market An organization where each section sells different commodities .

12. Mail Order House A retail outlet where customer send the order to the sellers by post and the sellers sends the goods by post.

13. Vending machine A vending machine is a machine that dispatches merchandise when a customer deposits sufficient money into slot or vent to purchase the desired items.

14. Documents used in internal trade Performa invoice - price quote a seller gives to a buyer which includes the includes the precise cost of the goods at the time of transaction . Invoice- statement given by the seller to a buyer includes tax.it is also called as bill. Debit note - Debit note is made by seller to a buyer to debit the account of the person named . Credit note -It is made by the buyer to credit the account of the person named. Lorry receipt -It is issued by the transporter .it contains the name of the consignor , registration number of goods carriage in which the goods are transported ,details of the goods transported details of the place of origin and destination.