retail definition business

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What is a retail business?

The word “retail” refers to a type of business where merchants sell products or services to individual consumers for personal use. Learn more in this post. Retail describes the sale of a product or service to an individual consumer for personal use.

What is a retail transaction?

Retail describes the sale of a product or service to an individual consumer for personal use. Retail transactions occur through different sales channels, such as online, in a brick-and-mortar storefront, in direct sales, or via mail. The defining feature of a retail transaction is that the end user is the buyer.

What is the difference between retail and wholesaling?

Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and then sells in smaller quantities to consumers for a profit.

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