Besides this, retailing is a great asset to the economy. It provides jobs, adds to the GDP, and acts as a preferred shopping channel during the holiday season.

- • types of retail stores like department stores, speciality stores, supermarkets, • types of retail stores like department stores, speciality stores, supermarkets, convenience stores, catalogue showrooms, drug stores, superstores, discount stores, extreme value stores etc.
- • retailing: Non-store retailing is a type of retailing where the transaction happens • retailing: Non-store retailing is a type of retailing where the transaction happens outside conventional shops or stores. It is further divided into two types - direct selling (where the company uses direct methods like door-to-door selling) and automated vending (installing automated vending machines which sell offer variety of products without the need of a human retailer).
- • retailing: It involves retailing through corporate channels like chain stores, • retailing: It involves retailing through corporate channels like chain stores, franchises, and merchandising conglomerates. Corporate retailing focuses on retailing goods of only the parent or partner brand.
- • retailing: Internet retailing or online retailing works on a similar concept of selling • retailing: Internet retailing or online retailing works on a similar concept of selling small quantities of goods to the final consumer but they serve to a larger market and doesn't have a physical retail outlet where the customer can go and touch or try the product.
- • retailing: Retailers not always sell tangible goods, retail offerings also consists of • retailing: Retailers not always sell tangible goods, retail offerings also consists of services. When a retailer deals with services, the process is called service retailing. Restaurants, hotels, bars, etc. are examples of service retailing.

### Characteristics Of Retailing

Retailing can be differentiated from wholesaling or manufacturing because of its certain distinct characteristics which include -

- • contact with the customer - Retailing involves direct contact with the end customer • contact with the customer - Retailing involves direct contact with the end customer and are a mediator between the wholesaler and the customer or the manufacturer and the customer depending upon the distribution channels used.
- • with the customers - Retailers form a bond with the customers and help them • with the customers - Retailers form a bond with the customers and help them decide which products and services they should choose for themselves.
- • small quantities of goods - Retailers usually stock small quantities of goods compared • small quantities of goods - Retailers usually stock small quantities of goods compared to manufacturers and wholesalers.
- • goods of different brands - Retailers usually stock different goods of different brands • goods of different brands - Retailers usually stock different goods of different brands according to the demand in the market.
- • contact with the company - Retailers act as the representatives of the company • contact with the company - Retailers act as the representatives of the company to the end customers who give their feedback and suggestions to them.
- • a limited shelf space - Retail stores usually have very limited shelf space and only • a limited shelf space - Retail stores usually have very limited shelf space and only stock goods which have good demand.
- • the goods at maximum prices - Since retailing involves selling the products directly to • the goods at maximum prices - Since retailing involves selling the products directly to the customers, it also witnesses the maximum price of the product.