The document discusses retailing and the functions of retailers. It provides definitions of retailing as involving the sale of goods to consumers through distribution channels to earn a profit. The key functions of retailers mentioned are: 1) Buying and assembling goods from wholesalers and manufacturers. 2) Warehousing and storing goods in stores until they are sold to consumers. 3) Selling goods directly to consumers through various methods to satisfy consumer demand.

1. - M.SWATHI

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Retail involves the process of selling consumer
goods or services to customers through multiple Channels of
distribution to earn a profit. Retail comes from the Old French
word tailler, which means "to cut off, clip, Breaking bulk, divide"
.
Retailing as a sector includes subordinated
services, such as delivery. The term "retailer" is also applied
where a service provider services the small orders of a large
number of individuals, rather than large orders of a small
number of wholesale, corporate or government clientele. Shops
may be on residential streets, streets with few or no houses, or in
a shopping mall.

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A retailer purchase the goods or products in large
quantities from the manufactures directly or through the
wholesale and sells smaller quantities to the consumers for
profit.

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FUNCTIONS OF RETAILER
 Buying and Assembling
 Warehousing and storing
 Selling
 Credit facility
 Risk bearing
 Grading and packing
 Collection and supply market information
 Helps in introducing new products
 Window display and Advertisement

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BUYING AND ASSEMBLING:
A retailer deals in different variety of goods
which he purchases from different wholesalers for selling to the
consumers. He tries to locate best and economical source of the
supply of goods. Assembling starts after the goods have already
been purchased. It is a function separate from buying. Buying
involves transfer of ownership of the goods, where as
assembling involve creation and maintenance of the
stock of goods purchased from different
sources.

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WAREHOUSING OR STORING:
Warehouse retailing is a concept of
selling large quantities of goods at discounts deeper than those
provided in conventional supermarkets or wholesalers. They
offer very low prices and little or no customer service at all.
The value provided to customers (that include ultimate
consumers and small retail outlets) is in the form of discounts
and it is overall a rather no-frills experience. The industry rose
in significance with dwindling disposable income but has
matured over the years owing to unavailability of space,
growing real estate prices etc.

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After assembly of goods from different suppliers, the
retailers preserve them in stores and supply these goods to
the consumers as and when required by them. The goods
are kept as reserve stocks in order to ensure uninterrupted
supply to the consumers.

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SELLING:
Retail involves the process of selling consumer goods
or services to customers through multiple channels of
distribution to earn a profit. Demand is identified and then
satisfied through a supply chain. The end objective of the retailer
is to sell the goods to consumers. He undertakes various methods
to sell goods to the ultimate consumers.

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Retail Selling Process:

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CREDIT FACILITIES:
credit facilities provides loan services
to retail consumers for goods and services. Retail credit facilities
lend funds to consumers wishing to purchase high ticket items
but are short on capital. Thus, retail credit facilities may enable
a greater number of consumers access to a retailer's goods.
Retailer caters to the needs of the
customers even by supplying them goods on credit. He bears
the risk of bad debts on account of non-payment
of amount by the customers.

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RISK BEARING:
A retailer has to bear different type of
risks in relation to goods. While in stores, goods are exposed to
various risks like deterioration in quality, spoilage and
perishability etc. The products are confronted to natural risks
such as fire, flood, earthquake and other natural
calamities.Other type of risks like change in customer’s tastes
also adversely affects the sales.

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GRADING AND PACKING:
The retailer grades the goods which are
left ungraded by the manufacturers and the wholesalers. He packs
the goods in small packages and containers for the convenience of
the customers.
The Retail market caters to the sale of
goods to the end consumers rather than producers or
intermediaries (wholesale is the other one). Therefore Retail
Packaging entails every aspect that is required for the product
to reach the consumer from the producer
including protection, branding & regulation.

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COLLECTION &SUPPLY OF MARKET INFORMATION:
The retailers are in direct touch
with the consumers. They gather invaluable information with
regard to likes dislikes tastes and demands of the consumers
and pass on this information to the wholesalers and the
producers which are very helpful to them.

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HELPS IN INTRODUCING NEW PRODUCTS:
Without the services of retailers,
new products cannot be introduced properly in the market.
This is so because a retailer has a direct interaction with the
consumer. They act as intermediaries between end-users and
suppliers such as wholesalers or manufacturers. Retailers are
in the position to effectively communicate
the response and changing preference
of the customers.

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WINDOW DISPLAY AND ADVERTISING:
One of the most creative and fun aspects of running a pop-
up shop is managing the visual merchandising elements of the retail
environment. That means everything from the window display a
prospective customer first sees that draws them to your store, to the
signage that directs them around, and the merchandising displays
that catch their eye and ultimately influence them to purchase
something.
The retailer displays the products in show windows in
order to attract the customers.This
leads to immense publicity for the
product.

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Key Reasons for Retail Change in India:
There are some fundamental factors that has brought
the major change in retailing industry today:
• Changing Income Profiles: Steady economic growth fuelled
the increase in disposable income in India.
• Changes in Consumption patterns: Occupational changes
and expansion of media have caused a significant change in the
way the consumer lives and spends his money. The changes in
income brought about changes in the aspirations and the
spending patterns of the consumers.
• Emerging Rural Market: The Rural market is beginning to
emerge as an important consumption area, it has increased the
demand.

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• The emergence of a young Earning India : Nearly 70% of
the Indian population is below the age of 34. taking advantages
of employment opportunity in the booming service sector these
young Indians are redefining service and consumption patterns.
• Introduction of the private label : Retailers now decide on
products and brands they want to stock. Some have even
developed their own in store brands/products that cater to the
needs of target customers.
• Technology: Increasing use of technology, use of bar code
provides wealth of information to retailer. Consumer profile,
products purchased, price ranges, promotional offers, customer
cards, internet etc.

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