Retail trade involves the sale of goods directly to consumers in small quantities to meet their needs. Retailers purchase goods from wholesalers and sell them directly to consumers. They provide services like home delivery and credit facilities. There are two main types of retailers - itinerant retailers who move from place to place selling goods like hawkers, and fixed shop retailers who operate from a permanent location, ranging from small general stores to large supermarkets and department stores. Retailers play an important role in the economy by connecting producers and consumers.

1. RETAIL TRADE
TRADE IN WHICH THE SELLS THE GOODS TO
CONSUMERS ACCORDING TO THEIR REQUIREMENT.

2. Characteristics of retail trade
 GOODS ARE SOLD TO ULTIMATE CONSUMERS
 GOODS ARE PURCHASED AND SOLD IN SMALL IN QUANTITIES
 VARIETIES OF SO GOODS ARE SOLD .
 DIRECT CONTACT WITH CONSUMERS
 AREA OF SALE IS LIMITED .

3. Function of Retailer
 FORECAST THE COMMODITIES USEFUL TO HIS CONSUMERS .
 COLLECTS VARIETIES OF GOODS FROM DIFFERENT WHOLESALERS.
 SELLS GOODS ACCORDING TO THE REQUIREMENT OF CONSUMERS .
 SELLS ON CREDIT BASIS AND PROVIDE HOME DELIVERY SERVICES.
 COLLECTS INFORMATION RELATED TO MARKET
 TAKES RISK ARISING DUE TO DECREASE IN SALES ,PRICE OF GOODS.

4. Service of Retailers
Service to producers Service to consumers
1. Services of product in small quantities
2. Collecting customers demand
3. Advertising and promotion of product
1. Regular supply of goods
2. Information about product
3. After sale of services
4. Credit facility
5. Ease of buying

5. Itinerant Retailers Fixed shop retailers
Hawkers and
peddlers
Market traders
Street traders
Cheap traders
small retailers Large retailers
Stall holders ,general
stores single line
stores ,specialty
shops
Departmental stores multiple
shops consumer co-operative
stores , Super-market.
Types of Retailers

6. Itinerant Retailers
1. Hawkers and
peddlers : carry
goods on their
wheeled vehicles .
2. Market traders: Sell
merchandise on
some selected day of
the week
3. Street trader: Display
their goods at the
busy pavements of
corners and sell the
goods to public.

7. Small Retailers
1. Stall holders:
Open wooden
stalls .goods sold
are snacks ,tea
&many more.
2. General stores:
stores remain
open for long
hours, provide
credit facility
,home delivery.
3. Specialty shop:
Focus on specific
needs of
customers.

8. Large Retailers
Departmental
stores: Big retail
store with different
department or
sections or dealing
in different line of
product forming a
complete unit in
itself.

9. Multiple
shops/chain stores:
One organization
sets up shops in
different localities of
the city or in
different cities. Ex-
SUBWAY.

10. Consumer co-
operative stores
Stores are operate and
controlled by
consumers themselves.

11. Super Market
An organization where
each section sells
different commodities .

12. Mail Order House
A retail outlet where
customer send the
order to the sellers by
post and the sellers
sends the goods by
post.

13. Vending machine
A vending machine is a
machine that
dispatches
merchandise when a
customer deposits
sufficient money into
slot or vent to
purchase the desired
items.

14. Documents used in internal trade
• Performa invoice- price quote a seller gives to a buyer which includes the
includes the precise cost of the goods at the time of transaction .
• Invoice-statement given by the seller to a buyer includes tax.it is also called
as bill.
• Debit note- Debit note is made by seller to a buyer to debit the account of
the person named .
• Credit note-It is made by the buyer to credit the account of the person
named.
• Lorry receipt-It is issued by the transporter .it contains the name of the
consignor , registration number of goods carriage in which the goods are
transported ,details of the goods transported details of the place of origin
and destination.