WHOLESALERS Meaning and
Definition
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Wholesalers are an integral part of the supply chain in business and commerce. They are a type of intermediary who purchase goods or products in large quantities from manufacturers or producers and then sell them in smaller quantities to retailers, other businesses, or organizations. Their main objective is to act as a bridge between the manufacturers and the retailers by buying goods in bulk and distributing them to various customers.
One key characteristic of wholesalers is that they typically do not sell products directly to individual consumers or end-users. Instead, they focus on selling to businesses that will further distribute or use the products. This often involves offering discounts or selling at a reduced price compared to the retail price to incentivize businesses to buy in large quantities.
Wholesalers also play a vital role in providing inventory management for retailers. By purchasing goods in bulk, they help ensure a steady supply of products for retailers to meet customer demand. Additionally, they offer convenience by allowing retailers to consolidate their purchases and have a single point of contact for various products.
In summary, wholesalers are intermediaries who buy goods in large quantities from manufacturers and sell them in smaller quantities to retailers or other businesses. They assist in bridging the gap between the supply and demand of goods, offering benefits such as cost savings, inventory management, and convenience in the distribution process.
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Etymology of WHOLESALERS
The word "wholesalers" is derived from the word "wholesale". The term "wholesale" originated in the 15th century, combining the Middle English words "whole" (meaning entire or complete) and "sale" (meaning the act of selling). The concept of selling goods in large quantities or bulk was introduced, and thus, those engaged in this practice became known as "wholesalers". The term evolved to specifically refer to businesses or individuals who purchase goods in large quantities from manufacturers or producers and sell them to retailers or other businesses at a lower price for further distribution.
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