Few can answer exactly who retailers are, but almost every one of us is a client of these same retailers. And all because retail has firmly entered the lives of millions of people.
Retail and retailers
The term "retail" comes from the English word retail, which means retail. Thus, this term means the sale of goods to the final consumer, in other words, retail trade. Accordingly, companies engaged in such trade are called retailers.
Despite the fact that retailers sell products that are not intended for subsequent resale, the scale of their trade is very large. A resident of any large city where there are hypermarkets of products, electronics, household appliances, etc. can rate them. All of them belong to the retail segment.
Retail Technology
Retailers work with wholesale volumes of goods, but sell them at retail. Such a scheme operates thanks to special trading technologies. In another way they are also called retail technologies, and they are aimed at the mass consumer. The main task is to hire a minimum of personnel who are able to serve a maximum of consumers. Due to this, costs are reduced, costs for each client are reduced. As a result, the retailer’s competitiveness is growing.
As an example of retail technology, self-service stores, payment terminals and ATMs can be cited.
Orientation to different classes
Retail is characterized by a wide variety of goods and services offered. Moreover, they are all collected in one place. The class of products, the level of personnel and consumers can be very different - this approach is used in any industry, whether it is grocery trading or banking services. Retail has several classes: economy, medium, premium, deluxe, deluxe. They differ in the level of applied retail technology.
Increased attention is paid to attracting customers, in particular, how the product is located (on a display case, on a shelf, at the entrance, etc.). The design of the entire distribution network is carefully thought out.
