Question

What are the functions of Retailers?

Answer 1

1. Buying: A retailer buys a wide variety of goods from different wholesalers after estimating the customer’s demand.
2. Storage: A retailer maintains a ready stock of goods and displays them in the shop.
3. Selling: The retailer sells the goods in small quantities according to the demand taste and preference of consumers.
4. Grading and Packing: The retailer grades the goods which are not graded by manufacturers and wholesalers.
5. Risk–bearing: A retailer always keeps stock of goods in anticipation of demand and bears the risk of loss due to fire, theft, spoilage, price fluctuations, etc.
6. Transportation: Retailers often carry goods from manufacturers to their retail outlets.
7. Financing: Some retailers grant credit facilities to their customers and provide the facility of return or exchange of goods.