What is Retail?

A retail sale appears when a business sells a product or service to an individual consumer for his or her use. The transaction itself can appear through several different sales channels, such as online, through direct sales, or direct email. The aspect of the deal that qualifies it as a retail transaction is that the end user is the buyer.

Types of Retail Businesses

There are an estimated 4million retail establishments in the United States, from stores to restaurants to gas stations to salons, pest control providers, and auto mechanics and sales. Those businesses employ close to 42 million people, making retail the nation’s largest private sector employer in the country.

There are four major categories of retailers:

  • Hardlines – things that tend to last a long time, such as cars, furniture, and applicants
  • Soft goods or consumables – this kind of goods are things like clothing, shoes, and hygiene
  • Food – things are known as meat, cheese, produce, and baked goods
  • Art – this includes fine art, as well as books and musical instruments

Within those categories, you’ll also find different types of retail stores.

 

Some of the most common types include:

  • Department Stores – the oldest, and often most considerable, the place for consumers to shop for a variety of products under one roof. Primark and Macy’s are examples.
  • Big Box Store – major retailers that specialize in one type of product, such as musical instruments.
  • Discount Stores – stores that stock discounted items and lower priced brands. Walmart is a great example.
  • Warehouse Stores – these no-frills warehouses often require you to be a member to access their low prices. Costco is that kind of store.
  • Mom-and-Pop Stores – smaller, often niche stores run by small business owners. These are your corner stores and local storefronts.
  • E-tailers – online retailers that sell via the internet and have products or services delivered to your door. They typically do not have physical stores. Amazon is a great example.
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Point of Sale

To complete a sale, retail stores have traditionally had customers bring their purchases to a cash register, where a clerk tallies the total cost and rings up the deal. Today, some supermarkets have automated services for sale, where customers can scan their bag items and check out using cash or credit card.

Customers were buying online shop on their mobile or laptop devices, choosing to select the products they want and then type in their credit card information to complete their online sale.

What is a Supply Chain?

A supply chain is a process that is active between business and suppliers in order to distribute and deliver product or services to the users or buyers.

Retailers know how important is the supply chain for the business and delivering the product to the consumers. Having that in mind, they need to have a good price with reasonable time frame delivery. If all aspects of the supply chain are not satisfied it will lead to the increased cost of delivery time.

How can Retailers Benefit from Live Chat?

For consumers, having live chat for an e-commerce website is very appealing. If someone from the brand is available to speak with website visitors in real-time such as customer service agent or sales representative customers are 72% more satisfied compared to email and phone.

Using some of the most important features for e-commerce such as visitor tracking, predefined answers, proactive chat and ticketing system helping e-commerce stores to have better communication with their users and boost customer experience.

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Retail was last modified: August 23rd, 2019 by Mirjana
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