What are the different types of retail traders?
Among the different types of retail trade operations are the following:
- Itinerant and fixed shops.
- Department stores.
- Chain stores.
- Mail-order houses.
- Consumer cooperative stores.
What are itinerant traders?
Retailers who do not have any fixed place to carry out their business activities are known as itinerant traders. They have to move from one place to another along with their goods in search of consumers.
What are the type of itinerant retailers?
Itinerant retailers may be of four types. They are Hawkers and peddlers, cheap jacks, market traders; and street traders.
What are the characteristics of itinerant retailers?
Some features of such itinerant retailers are as follows,
- The scale of operations is small.
- The capital is also limited in the case of itinerant retailers.
- They usually deal in day to day products and perishable items of daily use like fruits, vegetables, milk, toiletries etc.
How are retailers classified?
There are four common ways that retailers can be classified: number of outlets, margin versus turnover, location and size.
Who is a small scale retailer?
Small scale retailers are also called fixed shop retailers. These retailers run small shops that deal with miscellaneous products of daily use and shops that sell particular products of various varieties. They have fixed shops of their own and hold small stocks located in market areas or residential places.
What is the smallest retailing unit?
The industry term for smaller units is RMU (retail merchandising unit). These smaller units were created to avoid lease conflicts with existing stores that had contractual “kiosk” exclusions and local fire codes requiring greater distance between units by placing them on wheels.
What are the features of departmental stores?
Usually a departmental store offers the following advantages:
- (i) Shopping convenience:
- (ii) Wide Choice:
- (iii) Economies of large scale:
- (iv) Liberal services:
- (v) Central Location:
- (vi) Economy and Advertising:
- (vii) Use of Specialised Services:
- (viii) Large Volume of Sales:
What are the advantages of small scale retailer?
Advantages of small-scale retailers without shops i) Require a small amount of capital to start and operate their businesses. ii) Are convenient since they take goods to the customers within their reach. iv) Most of their goods are low-priced and hence more affordable to customers.
Types of Retailing Trade
- Itinerant Retailers Meaning.
- Features of Itinerant Retailers.
- Types of Itinerant Retailers.
- Fixed Shops.
Retailers who do not have any fixed place to carry out their business activities are known as itinerant traders. They have to move from one place to another along with their goods in search of consumers. Various types of itinerant traders are as follows : Peddlars and hawkers : These are the oldest form of retailers.
The most common types of itinerant traders are as follows : hawkers and peddlars, street traders, market traders, cheap jacks.
A retail establishment can be classified according to its ownership, level of service, product assortment, and price. On the basis of ownership, retailers can be broadly differentiated as independent retailers, chain stores, or franchise outlets.
What are the five types of retail trade?
What do you mean by itinerant?
: traveling from place to place especially : covering a circuit itinerant preacher.
What are the features of chain stores?
Characteristics of Chain Stores or Multiple Shops
- Large Scale Retailing. It is basically a system of large scale retailing.
- Approaching the Customer.
- Same Lines of Products.
- Convenience Goods.
- One Ownership.
What are the different types of itinerant traders?
The most common types of itinerant traders are as follows : hawkers and peddlars, street traders, market traders, cheap jacks. Following are the reasons for the survival of itinerant traders in spite of competition from the large scale retailers : 1.
Which is an advantage of being a Hawker?
They are hawkers, they don’t have enough capital and cannot store goods in bulk. Their main advantage is that they provide convenient service to the consumers and the limitation is that they deal in such products which are unreliable in terms of quality, price and durability.
What are the different types of External Trade?
External trade can be further sub-divided into three groups, viz., Export Trade : When a trader from home country sells his goods to a trader located in another country, it is called export trade. Import Trade : When a trader in home country obtains or purchase goods from a trader located in another country, it is called import trade.
What are the characteristics of a retail trader?
This type of retailers are particularly suited to deal in seasonal products like fruits, vegetables and other perishable goods such as fishes, milk, eggs, etc. They offer very tough competition to the small- scale fixed shop-retail traders.