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Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is the sale to business or institutional customers.
The retail format (also known as the retail formula) influences the consumer's store choice and addresses the consumer's expectations. At its most basic level, a retail format is a simple marketplace , that is; a location where goods and services are exchanged.
The retail marketing mix typically consists of six broad decision layers including product decisions, place decisions, promotion, price, personnel and presentation ...
The history of retail encompasses the sale of goods and services to consumers across all cultures and time periods from ancient history to the present. [ 1 ] Commerce first took the form of bargaining between early human civilizations.
Retail workers are people who are employed by any form of retail store. Typically one of the first jobs people work in, many retail workers are as young as 14. [ 1 ] The jobs of a typical retail worker include processing customers payments, and helping customers around the store, and little training is required.
Outlet stores enabled manufacturers to directly enter the retail field themselves and capture more of the profit associated with their brand names. [3] Very few outlet centers were built within major cities, in order to minimize disruption to manufacturers' existing relationships with department stores and other chain stores which had ...
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Often in a retail setting, creatively tying in related products or accessories is a great way to entice consumers to purchase more. Merchandising helps to understand the ordinary dating notation for the terms of payment of an invoice. [clarification needed] Codified discounting solves pricing problems including markups and markdowns. It helps ...