What is Retail trade
This post explains about Retail trade and types of Retail trade.
Retail trade:
Retail trade is defined in the International Standard Industrial Classification (ISIC) as the re-sale (sale without transformation) of new and used goods to the general public, for personal or household consumption or utilisation.
Retail trade includes the following
- non-specialised retail trade in stores;
- retail sale of food, beverages and tobacco in specialised stores;
- other Retail trade of new goods in specialised stores;
- retail sale of second-hand goods in stores;
- retail trade not in stores.
Retailers are business firms engaged in offering goods and services directly to consumers. In most—but not all—cases, retail outlets are primarily concerned with selling merchandise. Typically, such businesses sell individual units or small groupings of products to large numbers of customers.
Types of Retail Trade
- Itinerant and small-scale fixed shops: Itinerant retailers are the type of sellers you see at markets or in busy streets. They may not have a permanent location to sell their goods, instead relying on open and available spaces. Fixed shops, on the other hand, have a permanent location you can visit during set business hours. Examples: Street traders, food cart/food truck owners (itinerant); a pharmacy, a shoe store (fixed)
- Department store: A department store is a larger retail location that carries many different types of goods under one roof, generally divided into different departments, such as housewares or bedding. Examples: Big Bazaar, Shoppers Stop, Lifestyle
- Chain store: Chain stores share the same basic design, layout and products, as well as name, and are located across the nation or world. Chain stores are owned by the same company, so they are recognizable from one location to the next. A department store might be part of a chain. Examples: Central, Brand Factory, Planet Sports
- Mail-order houses: Mail-order houses help to sell or process advertising or orders for a business that operates through a catalog or mail orders. Goods are delivered to consumers through the mail system, rather than being purchased in-store. This could include goods purchased from a popular catalog received in the mail.
- Teleshopping: Since mail-order allows you to buy and receive goods through the mail, teleshopping allows you to buy goods via telephone or an Internet link and have them delivered to your house.
This post describes about Retail trade and types of Retail trade. Comment below your thoughts about this post Retail trade and types of Retail trade.
Learn Exports Imports Free, Click here
Click here to know GST rate of your goods or service
All about registration of GST in India, FAQ
Cancellation of GST Registration in India, FAQ
Can a person without GST registration claim ITC?
Why separate Registration of GST in each state in India, for each business.
Latest date to file GST registration in India
Procedures to obtain GST registration for non-resident taxable person
Is digital signature option available under registration of GST in India?
Advantages of GST registration in India
Who has to obtain GST registration in India?
Does GST registration number of my firm change time to time in India?
Is GST registration required for a public sector undertaking?
Is amendment of GST registration allowed in India?
Term Non-Filers and Late-Filers under GST
Term non-taxable supply under GST
What is Invoice under GST
Non Registered person under GST
Exemptions under GST Registration
Term Net value of taxable supplies under GST
Why do carriers balance weight and volume while charging freight amount in Exports?
Why does Palletization require?
Why labeling and marking in Export business?
The term FCL. What is FCL means
The term LCL. What does LCL mean?
Tips to exporters on Documentation
How does First Appraisement system of import customs clearance procedures work?
How does Letter of Credit work?
How does STP units work in India?
How does TT (Telegraphic Transfer) work?
How to export from Morocco?
How to Import to Morocco?
How to import to India from Morocco?
How to export from India to Morocco?
How to Import to Luxembourg?
How to import to India from Luxembourg?
How to export from India to Luxembourg?
How to export from Lithuania?