Retail Trade is the level of activity in an industry that consists of selling goods directly to individual customers for their own use, rather than to businesses such as retailers. A retailer is a business enterprise that is engaged in the sale of goods and services directly to the ultimate consumers. He/she normally buys goods in large quantities from wholesalers and sells them in small quantities to the ultimate consumers.
He/she represents the final stage in the distribution where goods are transferred from the hands of traders to final consumers or users. Retailing is, thus, that branch of business which is devoted to the sale of goods and services to the ultimate consumers, for their personal, non-business use.
A retailer performs different functions in the distribution of goods and services. He/she purchases a variety of products from wholesale distributors and others, arranges for proper storage of the goods, sells the goods in small quantities, bears business risks, grades the products, collects market information, extends credit to the buyers and promotes the sale of products through displays, participation in various schemes, etc.
