ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Retailing includes all activities involved in selling goods or services to the final consumers for personal, non-business use. Any organization that sells the products for consumption to the customers for their personal, family, or household use is in the occupation of retailing.

Detailed explanation-2: -Retail refers to the activity of selling goods or services directly to consumers or end-users. Some retailers may sell to business customers, and such sales are termed non-retail activity.

Detailed explanation-3: -Retail businesses sell items or services to customers for their consumption, use, or pleasure. They typically sell items and services in-store but some items may be sold online or over the phone and then shipped to the customer. Examples of retail businesses include clothing, drug, grocery, and convenience stores.

Detailed explanation-4: -A retail business is the sale of items and services in small quantities to customers in-store or online. Grocery, clothing, and drug stores are examples of retail.

Detailed explanation-5: -Specialty Stores. Specialty stores focus on selling a single type of product or a single product line. Department Stores. Department stores are typically larger than specialty stores and have separate areas or departments for similar product lines. Supermarkets. Category Killers. Off-Price Retailers. 25-Jan-2023