Retail
Retail (ri-teyl)
Retail is the process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit. Retailers satisfy demand identified through a supply chain. The term "retailer" is typically applied where a service provider fills the small orders of many individuals, who are end-users, rather than large orders of a small number of wholesale, corporate or government clientele.
Etymology
The term "retail" is derived from the Old French word retaillier which means "to cut off, clip, pare, divide" in terms of tailoring (1365). It was first recorded as a noun with the meaning of a "sale in small quantities" in 1433 (from the Middle French retail, "piece cut off, shred, scrap, paring").
Related Terms
- Wholesale: The sale of goods in large quantities, as for resale by a retailer.
- Supply Chain: The sequence of processes involved in the production and distribution of a commodity.
- Consumer: A person who purchases goods and services for personal use.
- Distribution (business): The process of making a product or service available for the consumer or business user who needs it.
- Profit (economics): A financial benefit that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs and taxes needed to sustain the activity.
See Also
External links
- Medical encyclopedia article on Retail
- Wikipedia's article - Retail
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