Explain the functions of retailers.
4 years ago
Marketing
Retail stores or retailers have strategic importance as a channel of distribution.
They perform the following functions:
- Retailers purchase and assemble goods from a large number of wholesalers and manufacturers to meet the needs of the ultimate consumers.
- Retailers keep a large number of products of different varieties in stock to sell them to the customers whenever they require. Thus, they create time utility.
- Retailers perform transportation function by carrying the goods from the wholesalers and handing them over to the ultimate consumers. Sometimes, they also provide free home delivery of products to the customers. Retailers sell the goods on credit to the customers and they increase their short-term) purchasing power. In this process, they undertake the risk of bad debts.
- Retailers educate the customers by informing them about the availability and diverseness of new products.
ADVERTISEMENTS:
- Retailers act as agents of customers. They communicate the needs or demands of their customers to the wholesalers and manufacturers. Thus, they help the customers in getting the want-satisfying products and help the manufacturers in purchasing the products which are desired by the customers.
Susmita Sah
Jan 17, 2022