What is a retail business

 

Retail is one or more activities that add value products and services to consumers either for family needs or for personal purposes. Business in the retail world is very interesting because it requires precision. There is even a slogan that says “retail is detail”. This slogan indicates that people who want to work in the retail world should be people who want to work hard, creative and detailed in each Activity. Retail is not always associated with daily needs.

So the conclusion retail can sell products or services depending on the current market needs. goods and Services that we enjoy today can not be separated from retail services, retail help producers or distributors and consumers so that every need will be fulfilled. Broadly speaking, the retail world is divided into 4 parts, namely the role and function of retail, retail strategy, merchandising management and store management. In retail there are processes – processes undertaken by some business entities before the goods are up to the consumer activity is called supply chain. The business entity is Manufacturer or Factory-Distributor or Supplier-Retailer-Consumer. Technically the plot runs vertically, but along with the development of the times the system experienced a more modern renewal.

Manufacturer / Factory

Producer or factory is a business entity that produces from the raw or semi-finished materials to semi-finished or finished goods. Usually Manufacturers or manufacturers require a third service (distributors or suppliers and retailers) so that the goods can be produced to the hands of consumers. But there are some manufacturers who sell directly to consumers in order to cut spending or earn percentage of profits with a larger portion.
distributor or Supplier. Distributor or Supplier is a business entity responsible for distributing products from producers or manufacturers to retailers or consumers. Distributors usually only serve large quantities of shipping to cut transportation costs.

Retailers

Retailer or retail is a business entity that distributes goods or services to consumers either they usually sell in retail. Retailers have an important role both in distributing and promoting certain goods. What things can be done by retail. Retail employs people to provide information about a particular product. Employed employees can serve consumers to help select and find the desired product. Electronic or clothing retailers usually require relatively large numbers of employees. In addition, retail also provides services – services in the form of credit for certain goods, messaging services between, and other services in accordance with the type of product offered.

Functions of Retail Businesses

  1. To conduct business activities in convenient locations and easily accessible to customers
  2. Provide a variety of products that allow customers to choose the desired product
  3. Share large quantities of products so they can be sold in small packages / sizes
  4. Change the product into a more attractive form.
  5. Save the product in order to remain available at a relatively fixed price
  6. Helps the change (transfer) of ownership of goods from producers to consumers
  7. Causing the movement of goods through the distribution system
  8. Provide information, not only to customers, but also to suppliers
  9. Provide assurance of after-sales service products, and participate in handling customer complaints
  10. Provide credit and lease facilities.