Question

describe the retail industry in terms of how it affects everyone, both directly and indirectly.

Answer 1

retail industry is a industry in which goods and services are offered or sold to the public by retailers (in the form of retail outlets, online sale or telemarketing). Retailers are very important in the distribution channel because they are the link between the end customer and company. Growth of retail industry ensures the supply of goods and services to the client at best possible charges and rates and also provide employment opportunity to the local population. Retail industry create a balance in demand and supply and provide information to the company about the customer taste and preferences.

Retail industry also provides a platform for the companies and corporations to sell their product with the help of retailers to end customers. Retailers also helps in the pricing strategy of the company.