Retail is refers to the enterprise to sell a product or service to a consumer for its own use. Trade itself can be done through a variety of different sales channels, such as online shopping, in shops, through direct sales and direct mail. It as the sales of retail trade is the end user is the buyer.
Retail business type
The United States has about 3.7 million retail stores, from shops to restaurants, salon to the gas station, pest control provider and auto mechanic. These companies employ nearly 42 million people, making the retail become America’s biggest private sector employer.
There are four groups of retailers:
The hard line – tend to last for a long time, such as household appliances, cars and furniture
Soft commodities or consumer goods such as clothing, shoes and cosmetics, things like that
Food – like meat, cheese, agricultural products and the baking food
Art – such as art, books and Musical Instruments, etc
In these categories, you can also find the different types of retail stores. Some of the most common types include:
Department store – is the consumer to buy all kinds of products in the same environment, the oldest and biggest place. The target and messi’s example.
Big box stores – the main business category of retailers, such as electronic products. Best buy and Bed Bath and Beyond is the example.
Discount store – have discount department store of goods and low price brand. Wal-mart and kmart’s example.
Warehouse stores – the warehouse no frills often require you to become a member to get a lower price. BJ and Costco’s example.
Mom and pop stores – small business owners of small shops, is usually a small shop. Are these your corner shops and local shops.
Electronics retailer – sales via the Internet and online retailer of home in front of the products sent to you. They usually have no entity shop. Amazon and etsy is example.
Retail supply chain is composed of four participants: usually produce goods manufacturers, to buy from manufacturers and resold to retailers, wholesalers or distributors, and retailers buy from wholesalers and then sold to consumers. In every step of the link has a tag or profit margins, used to buy. Manufacturers of computing the cost of the product they create, then add profit percentage before selling to wholesalers. Wholesalers also do the same thing, to increase their percentage of profits to pay for our products. Retailers to sell products to the end customer (user), before the will of its own margins added to the cost of the product.
Therefore, a price of $1 product may be sold at the price of $2 to the wholesalers. Wholesalers to buy it for $2, and then sold at the price of $4 to retailers. Then retailers to pay $4 and $8 will sell it to the buyer. This is the way along the way everyone can make money.
Point of sale
In order to achieve sales, retail store customers traditionally took their shopping to the cash register, the total cost and end the sales clerk records there. Today, some supermarkets have self-service check-out channel, customer can scan their check-out items and use a credit card or cash. Customers buy online shop on the computer screen, click on the select the product that they want, and then enter their credit card information to complete the sales.
Through the Shopify POS sales everywhere