Retail is the business of making a profit by selling consumer products or services to consumers across various channels of distribution. Retailers meet the demand that has been identified by a supply chain. The concept is most often used when a service provider fills small orders from a large number of end-users rather than large orders from a few wholesale, corporate, or government clients.
The act of purchasing goods is referred to as shopping. This is often done to procure final items, such as food and clothes, and other times it is done as a leisure activity. Window shopping and browsing are popular recreational shopping activities, but they do not necessarily result in a purchase. Markets and shops for sale have a long and illustrious tradition dating back to antiquity. Itinerant peddlers were among the first merchants. Retail shops have evolved from simple "rude booths" to sophisticated shopping malls of the modern era through the years. The type of store, the market to be served, the optimum product assortment, customer care, supporting services, and the store's overall market positioning are all strategic choices that most modern retailers make. Following the implementation of the strategic retail strategy, retailers create the retail mix, which includes product, price, location, promotion, staff, and presentation. In the digital age, more retailers are attempting to enter wider audiences by selling through various platforms, including both bricks and mortar and online retailing.
A business plan is a structured written document containing a company's objectives, the strategies for achieving those objectives, and the timeline for achieving the objectives. Make quick and efficient plans with our sample printable Retail Plan Templates.
