Tamilnadu Samacheer Kalvi 11th Commerce Notes Chapter 24 Retailing Notes
→ Retailing is the process of selling the goods and services directly to the ultimate consumers in small quantities.
→ The traders who have no fixed place of sale are called Itinerants.
→ Mobile traders deal in low price, daily usable items such as fruits, vegetables, fish, clothing, books, etc.
→ Peddlers are individuals who sell their goods by carrying on their head or shoulders moving from place to place on foot.
→ Hawkers are petty retailers who sell their goods at various places such as bus stop, railway station, Public Park and gardens, residential areas and other public places using a convenient vehicle to carry goods from place to place.
→ The traders sit on the footpath of the road or at the end of the road (pavement) and sell their goods such as fruits, vegetables, books, etc., are called Street vendors.
→ The retailers who maintain permanent establishment to sell their goods are called Fixed Shop Retailers.
→ General Stores sell a wide variety of products under one roof, most commonly found in a local market and residential areas to satisfy the day-to-day needs of the customers residing in nearby localities
→ Single-line Stores are small shops which deal in a particular line of products such as garments, stationery, textiles, medicines, shoes, etc.
→ Speciality Stores deal in a particular type of product under one product line only.
→ The retailers having permanent establishment and dealing in. large scale are called Fixed shop large scale retailers.
→ A Departmental Store is a large retail establishment offering a wide variety of products, classified into well defined departments.
→ A department is a large scale retail showroom requiring a large capital investment by forming a joint stock company managed by a board of directors.
→ A departmental store combines both the functions of retailing as well as warehousing.
→ A departmental store requires a large building with ample parking at a central place.
→ A number of identical retail shops with similar appearance normally deal in standardised and branded consumer products established in different localities owned and operated by manufacturers or intermediaries are called as Chain stores or Multiple shops.
→ Multiple shops enjoy public confidence due to fixed prices, standard quality, uniform appearance, and selection of goods with the help of salesmen.
→ A Super market is a large retail store selling a wide variety of consumer goods on the basis of low price appeal, wide variety and assortment, self-service and heavy emphasis on merchandising appeal.
→ A consumers’ cooperative store is a retail organisation owned, managed and controlled by the consumers themselves to obtain products of daily use at reasonable low prices.
→ Hire purchase trading is a system by which the seller agrees to sell the articles to the buyer on condition that the payment of the article will be made in a fixed number of installments till the sale price is paid.
→ Installment system is a type of purchase in which the price amount of the product is not paid initially but in installments. It is also called as deferred payment system
→ Automatic vending machine is a new form of direct selling.
→ Shopping malls are developed due to change in departmental stores in modem time.
→ The manufacturers or the intermediaries place the advertisement of their products on different media of internet like e-mail, portal and browser.
→ The associations of agriculturists and other federations interact with farming cooperatives to streamline local subsidies and formulate marketing policies for selling agro products.