Table of Contents
What is Retail?
Retail or retailer may be a familiar term especially if you work in the business and supply chain field. Retail is a form of business that sells products or services to individual consumers or end-users. Products sold in retail business are not for resale but for end consumers’ consumption. In other words, retail is the final stop in the supply chain between producers and consumers. Those who do retail business are called retailers.
In the following explanation, let’s look at the various types of retail businesses and the roles of retailers in the supply chain.
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Types of Retail Businesses
There are various types of retail businesses. If you are interested in getting into this type of business, please pay attention to the types of retail businesses and opportunities below.
Products
When classified based on the products marketed, there are 3 types of business:
- Product retail: retail businesses that sell physical goods/products.
- Service retail: retail businesses that offer services.
- Non-store retail: selling goods to consumers using certain media such as vending machines.
Ownership
Based on the ownership status, such as independent retail, franchise/franchisee, and corporate chain.
Location
Types of retail businesses are differentiated based on the place of sales, such as commercial areas (markets, shophouses, etc.) and shopping centers.
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Marketing technique
Based on marketing techniques, retail businesses can be divided into online marketing (via certain websites) or offline (via conventional stores)
Roles of Retailer in the Supply Chain
In the supply chain system, a retailer holds a function to support consumers in finding the products they need and provide benefits for the wholesaler/wholesale party. Apart from that, retailers also have other functions including:
- Connecting between distributors/wholesalers and consumers
- Providing information to principals regarding consumer preferences, market demand, competitor products, and market trends
- Promoting products to consumers
- Facilitating consumer access to products
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