Retailer

Posted in Marketing and Strategy Terms, Total Reads: 590
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Definition: Retailer

Retailer is the one who sells goods/services directly to consumers for their personal or non-business use. Retailer purchase these goods/services from wholesale or distributor and sells to end customers at marked-up prices. Retailers are intermediaries between consumer and wholesalers (or manufacturers).Retailers play an indispensable role in creating a market for a product or promoting a product because they are the one who can influence consumer purchasing behavior.


Types of Retailers

Some of the important roles performed by Retailers are

  • Purchasing and Stocking
    • Retailer needs to purchase different variety of goods depending on the customer base and needs to stock them safely before selling

 

  • Influencing consumers and Selling
    • Retailer is the one whom consumers believe and hence has the ability to convince consumers to purchase the particular goods and sells the same

 

  • Assumption of Risk
    • Retailers need to take several risks like- the risk of storing goods which may deteriorate, risk of change in fashion and hence in consumer buying behavior etc.

 

  • Calibrating and Packing
    • Based upon consumer needs, retailers need to calibrate, pack and sell products accordingly 
  • Giving  credit
    • Retailers give goods to consumers on credit basis in order to get hold of consumer for longer time

 

  • Taking customer’s feedback
    • Retailers are the one who directly interact with end users and hence are in the position to provide genuine feedback to the manufacturer regarding products and its services

 

  • Advertising
    • If retailers are given additional discounts in certain products, then they push those products by advertising and releasing certain schemes themselves

 

Examples of some of the big retailers in the world are Wal-Mart, Carrefour, Tesco, Metro AG, Kroger etc.



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