Wholesale
Wholesale
Wholesale (pronunciation: /ˈhoʊlˌseɪl/) is a term used in commerce to describe the sale of goods in large quantities, typically for resale by retailers. The etymology of the term comes from the phrase "to sell in large quantities" or "to sell on a large scale."
Definition
Wholesale involves the sale of goods or merchandise to retailers, to industrial, commercial, institutional or professional users, or to other wholesalers, or involves acting as an agent or broker in buying merchandise for, or selling merchandise to, such persons or companies. Wholesalers are organized to sell or arrange the purchase or sale of goods for resale (i.e., goods sold to other wholesalers or retailers), capital or durable non-consumer goods, and raw and intermediate materials and supplies used in production.
Related Terms
- Retail: The sale of goods to the public in relatively small quantities for use or consumption rather than for resale.
- Distributor: An agent who supplies goods to retailers.
- Supply Chain: The sequence of processes involved in the production and distribution of a commodity.
- Inventory: A complete list of items such as property, goods in stock, or the contents of a building.
- Bulk Purchase: The purchase of much larger quantities than the usual, for a unit price that is lower than the usual.
Etymology
The term "wholesale" originates from the English word "wholesale", which was a combination of the words "whole" and "sale". The term was first used in the early 15th century, meaning "in large quantities" and "on a large scale". The modern use of the term, meaning "sale of goods in quantity" was first recorded in the mid 16th century.
Pronunciation
The term "wholesale" is pronounced as /ˈhoʊlˌseɪl/.
External links
- Medical encyclopedia article on Wholesale
- Wikipedia's article - Wholesale
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