Question

Imagine a life without your local markets. What difficulties would a consumer face if there is no retail shop?

Answer 1

Retail shops are the final stage of distribution through which retailers directly sell goods to the final consumers. Retail shops act as a link between manufacturers/wholesalers and consumers as they buy goods from manufacturers/wholesalers and sell them directly to consumers. They play an essential role because of the following features.

(a)  Product information: Retailers provide customers with information about new products, their features, prices, etc. This information helps the customers in deciding which product to buy, thus facilitating their product choice.

(b) Wide range of goods: Retail shops generally offer customers a wide variety of goods such as stationery goods, dairy products, and food items.

(c) Convenient locations: Retail shops are generally established close to residential localities. They remain open for long hours, providing convenience to customers.

(d) Credit facilities: Retailers at times offer goods on credit to their regular customers. This helps customers to maintain their level of consumption even when they are facing financial difficulties.

(e) Regular availability of products: Retail shops ensure regular and timely availability of goods produced by different manufactures. Thus, they make it possible for customers to purchase the goods they require as and when the need arises.

(f) After-sales services: Many customers look for after-sales services, such as repair of equipment, and many retail shops provide these services to their customers or arrange for them.