Some stores find it practicable to lease certain areas within the premises to outside concerns, which then run their own departments under the name of the department store. This arrangement is most frequently used for such specialized goods or services as millinery, photographic supplies, shoe repair, and beauty salons. Retailing Business activity of selling goods and services directly to consumers. Instead of selling products for resale, a retailer sells goods or services to individuals making purchases for themselves or their families. Some retailing businesses sell a combination of goods and services.
Retailers play an important role in getting products from producers to consumers.
Retailers help direct the physical flow of goods and services from places that produce goods to places where goods are used. Since the retailer has direct contact with the users of goods and services, the retailer can discover and attempt to meet the needs and preferences of consumers. To be successful, a retailer must distinguish itself from other retailers and develop a strategy for satisfying the needs and preferences of a specific consumer group. The Product Retailers strive to offer products that appeal to the tastes of the consumer, are of good quality, and function properly. Sometimes the product must also provide psychological and emotional benefits, such as prestige or convenience.