RETAILER Meaning and
Definition
-
A retailer is a business entity or individual that sells goods or services directly to the end consumer in exchange for payment. Acting as an intermediary between manufacturers, suppliers, wholesalers, and consumers, retailers enable the distribution and availability of products within the marketplace. This crucial link in the supply chain is responsible for making goods accessible and convenient for customers.
Retailers operate in various formats, including brick-and-mortar stores, online platforms, and even mobile applications. They typically purchase products in bulk from wholesalers or manufacturers and sell them in smaller quantities to individual customers. The buying process may involve negotiating prices, stocking inventory, and organizing displays.
As customer needs and preferences constantly evolve, retailers strive to meet these demands by curating their product assortment, offering competitive prices, and delivering exceptional customer experiences. They often employ strategies such as effective marketing, promotions, sales support, and efficient logistics to attract and retain customers. Establishing strong supplier relationships and efficient inventory management systems are also vital for maintaining product availability and ensuring a smooth shopping experience.
In addition to selling products, retailers often provide supplementary services such as after-sales support, warranties, and assistance with installation or repairs. Their primary goal is to maximize sales and profitability by understanding consumer behavior, adapting to market trends, and consistently improving their operations.
Overall, retailers play a pivotal role in the economy by creating employment opportunities and driving consumer spending, while simultaneously serving as a crucial link between producers and end consumers.
-
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Top Common Misspellings for RETAILER *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for RETAILER
Etymology of RETAILER
The word "retailer" is derived from the Middle English terms "retailen" and "retail", which were influenced by the Old French verb "retaillier" and noun "retail", respectively. The Old French term can be traced back to the Late Latin word "retaliate", meaning "to cut off, apportion". This Latin term was formed by combining the prefix "re-" (meaning "back") and the verb "taliare" (meaning "to split, cut off"). Over time, the meaning of "retail" shifted from "to cut off, apportion" to "sell in small quantities", which eventually led to the modern sense of a retailer as someone who sells goods directly to the final consumers.
Similar spelling word for RETAILER
Infographic
Add the infographic to your website:
