Retailer
Retailer is a business or person that sells goods to customers for profit. They can operate in physical stores, online shops, or both. Retailers purchase products from wholesalers or manufacturers and then sell them to consumers at a higher price, making a profit in the process.
There are various types of retailers, including department stores, specialty stores, supermarkets, and e-commerce retailers. Each type of retailer caters to different consumer needs and preferences.
For example, a department store like Macy’s offers a wide range of products across various categories such as clothing, accessories, home goods, and electronics. In contrast, a specialty store like Sephora specializes in beauty and skincare products.
Online retailers like Amazon have gained popularity in recent years due to the convenience of shopping from home and the wide selection of products available. Many traditional retailers have also expanded their online presence to reach a larger customer base.
Key functions of a retailer include:
- Purchasing products from suppliers
- Setting prices for products
- Promoting and marketing products to attract customers
- Providing customer service and support
- Managing inventory and logistics
Overall, retailers play a crucial role in the economy by facilitating the exchange of goods between producers and consumers. They help create value for both parties and contribute to economic growth.
For more information about retailers, you can visit Wikipedia.