1. Retailers purchase goods in large quantities from manufacturers or wholesalers and sell smaller quantities to consumers for a profit. They perform important functions like buying, storing, selling, grading, packing, risk-bearing, transportation, financing, sales promotion, and providing information to consumers and other businesses.
2. Major retailers discussed include McDonald's, Café Coffee Day, Woodland, and Raymond. McDonald's operates over 31,000 restaurants globally. Café Coffee Day has various store formats. Woodland began in 1992 and has 3000 outlets worldwide. Raymond is a leading brand in fabrics and fashion retail in India.
3. Retailers play a key economic role by contributing to retail sales and employment globally and locally.