The retail industry is that part of the business that is specialized in selling either goods or services to consumers and this is through the use of several outlets such as department stores, discount stores, specialty stores, and seasonal retailers. All these are retail stores and there are also online retail stores that are gaining popularity every day.
The retailer is the person or company that buys from the wholesaler and then starts the process of advertising his goods to the retail customer. The retail customer is a customer who likes to look through the product, try it on if it is clothes and then make a choice. Retailing is a fine art, the retailer needs to showcase his goods and display them in an attractive way such that the consumer would want to take a look. Also, he needs to assure the buyer that he is buying a product that is good and cared for. Price is competitive and in recent years large retail stores have competed with each other to unsurpassed heights.
Online retail is the latest trend in retailing. It serves two purposes with an excellence; serves the retail customer, brings the product right into his home where he can browse, choose, check availability, read reviews, and compare between similar products displayed by the same retailer. And, all this in his own free time whereby he does not have to go to a store and manually search for what he wants. The challenge here is to present the buyer with an excellent quality product so that he does not feel that buying online means buying bad products. In fact, the best of products are now online or at least there is no difference.
The services that the retailer give his customer starts with the display of the products, assistance in the form of trained assistants, changing rooms for clothes department, several payment methods as well as a return policy. The online service in retail industry provides all that plus the freedom to browse 24/7, but no chance for trying clothes. On the other hand, they provide delivery services.
Types of retail
- Home: this includes, paper, tissue paper, bags, paper carrier bags, furniture, appliances, home accessories
- Food: all types of food products including fresh, frozen, packed, processed, and more.
- Hard: this includes appliances, electronics, sporting goods, furniture, to sat the least
- Soft: this includes clothing, apparel, other fabrics
The products that sell the most and as such there are always promotions and offers involving them are the products that are used on a daily basis.
As we can see, retail industry has come to the point where they can provide you with almost anything, be it in the store or online.