Scope And Importance Of Retail Industry In India
Consumers benefit from retailing because merchants engage in marketing activities that allow them to explore a diverse selection of products and services. Retailing also plays a role in the formation of a sense of place, time, and ownership. The service given by a merchant also helps to improve the image of a product. Retailing has a large economic impact. It necessitates a large annual revenue and personnel. Hence. retail business in India holds profound importance. Retailing's Definition And Meaning Retailing is a group of activities completed when selling products and services to customers directly. The products and services offered to customers are only to be used by them personally, not for resale or other commercial purposes. The final step in the process of product distribution is retailing. In principle, retailing is a business activity that entails selling goods and services to a large customer base dispersed across a large area. Retailing takes many d...