Roles of Retailer - SS1 Economics Lesson Note
A retailer is a business that sells products or services directly to consumers. Retailers play an important role in the distribution process by acting as a bridge between manufacturers and consumers. Here are some of the key roles of a retailer:
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Purchasing: Retailers purchase products from wholesalers or directly from manufacturers.
Inventory management: Retailers are responsible for managing inventory levels to ensure that they have enough stock to meet consumer demand while avoiding overstocking.
Sales and marketing: Retailers use various sales and marketing techniques to attract customers and generate sales, such as advertising, promotions, and discounts.
Customer service: Retailers provide customer service to assist customers with their purchases, answer questions, and handle complaints.
Physical store management: For physical retailers, managing the store and its environment is a crucial part of the business, including store layout, product displays, and store cleanliness.