Retail Management_2ndSem-MidtermReviewer

Retail involves selling goods directly to consumers

the word "retail" comes from latin term meaning "to sell in bulk"

retailers typically buy products from manufacturers or wholesalers before selling them to consumers

wholesalers sell directly to consumers, just like retailers

An online shop that sells products to individual customers is considered a retailer

a grocery store is an example of retailer

retailers only sell physical products not services

department stores, supermarkets, and e-commerce websites are all examples of retailers

retailers do not set prices for the products they sell: only manufacturers do

retailer sell products in bulk quantities to consumers