Question

What are the services offered by retailers to wholesalers and consumers?

Answer 1

Retailers offer a variety of services to wholesalers and customers. Some of these services are listed below.

(a) They provide information to customers: Retailers provide information to customers about the new products available in the market, their features, prices, etc. This information helps customers decide which product to buy.

(b) They provide information to wholesalers: Retailers provide information to wholesalers, such as the tastes and preferences of customers, prevailing market conditions, and level of competition in the market. Wholesalers pass on this information to manufacturers.

(c) They store a wide variety of goods: Retailers generally store a wide variety of goods based on consumer tastes and preferences and thus allow customers to choose from the available range of products.

(d) They facilitate the distribution of goods: Retailers facilitate the distribution of goods to consumers for final consumption.

(e) They help in the promotion of goods: Since retailers are in direct touch with customers, they can promote the sale of goods through personal interaction. Thus, retailers help wholesalers and manufacturers in promoting the sale of goods.