Retailing consists of those activities involved in selling directly to ultimate consumers. In retail trade, the goods are purchased and sold in small quantities. The retailer is the last link in the chain of middlemen.
Functions and Services of Retailers with Examples
Functions and services of retailers can broadly be described as under:
1. Advertisement for New Products
As the retailers are in direct touch with the consumers and are in a position to influence the decision of consumers, they are the best media of the advertisement for new products.
They tell the utilities and features of new products to the consumers and try these products to them.
2. Arrangement to Sell the Goods
Retailers purchase goods from wholesalers and sell these goods to consumers in small quantities according to their needs and want.
Thus, they arrange for the ultimate sale of goods to the final consumers.
They relieve wholesalers from selling to a large number of consumers in small quantities.
3. Close Touch with the Habits, Tastes, and Needs of Consumers
As the retailers are in close touch with the consumers, they are closed touch with the needs, habits, tastes, liking, and preferences of these consumers.
They are in close touch with the changes taking place in these variables from time to time.
They provide all such information to the wholesalers.
4. To Relieve Wholesalers from the Botheration of Local Publicity
Retailor relieve wholesalers from the botheration of local publicity of their area because they undertake this liability.
5. To Relive Wholesalers from Contacting Consumers
Wholesalers have not to bother to have touch with consumers because the retailers take over and perform this liability in a beautiful manner.
Retailers provide all the necessary information to the wholesalers from time to time.
6. Facility of Credit
The retailers provide the facility of credit to their consumers.
The reality is that the consumers are very close to the retailers and the relationship between uterus and Consumers is very much personal.
Retailers help consumers and consumers help retailers in the period of difficulty.
7. Near to Customer
An important service rendered by retailers to the consumer is that the retailers are very near to the consumers.
The consumers do not have to go very far for purchasing the goods of daily need.
8. Convenient in Making Selection
Retailers purchase different goods from different manufacturers, and thus, maintain a large variety.
It makes it very easy for consumers to make their selection.
9. Facility of Home Delivery
Most of the retailers provide the facility of home delivery to their consumers at no extra cost.
The consumers have not to bother about the transportation of goods.
10. Facility of Sale on Approval Basis
The retailers are very close to consumers they offer the facility to their consumers of sale on approval basis.
The customers are given the facility that if the goods are not of their choice, they can return it within a certain time.
11. Facility of Repair and Maintenance
The retailers give the guarantee to their consumers to keep the goods in good condition for a certain period of time.
The facility is given by the retailers particularly when they sell the goods of technical nature, such as – Watch, radio, fan, smartphone, etc.
If the customers feel any problem regarding these goods, they can give these goods to the retailers who will get these products repaired free of cost.
12. The Facility of Fresh Goods
Customers get fresh goods from retailers. When customers want to purchase bread, biscuits, milk, egg, etc. he wants to purchase out of fresh stock.
Retailers provide this facility to their consumers in a beautiful manner.
13. To Provide Seasonal and Occasional Goods
Retailers provide goods to their consumers according to the need of particular season or particular occasion also.
For example, they sell suit in winter and shirting in summer, cotton Garments in summer and woolen Garments in winter, etc.
14. Helpful in Increasing the Knowledge of Consumers
Retailers deal in a large variety of goods. They also deal in the new varieties.
They tell the uses and characteristics of new products to the consumers.
They keep their consumer will be informed about the new development and changes in goods. It increases the knowledge of consumers.
15. Creation of Demand
Most of the demand creation methods are undertaken by retailers. They arrange for discovering the new products.
They help the manufacturer in creating the demand for new products.
It increases the sales of these new products on one hand and standard of living of the society on the other.
Thus, you know Functions and Services of Retailers with Examples.