Retail

Retail refers to the sale of goods or services to end consumers, typically in smaller quantities for personal use. Retailers purchase goods from manufacturers or wholesalers and sell them to individual customers, acting as an intermediary in the distribution channel. The retail sector covers a range of formats, including physical stores, online marketplaces, direct-to-consumer websites, catalogs, and mobile apps. Retailers may operate as independent businesses or as part of larger chains and can specialize by category or offer broad assortments.

Key activities in retail include merchandising—selecting and displaying products to maximize appeal—inventory management, pricing and promotions, point-of-sale transactions, customer service, and returns handling. Retailers optimize the shopping experience through store layout, signage, and omnichannel strategies that integrate online and offline touchpoints. Logistics and supply chain management, including stock replenishment and delivery, are essential to maintain availability and performance.

Common performance metrics include sales, gross margin, inventory turnover, conversion rate, average order value, and same-store sales growth. The retail landscape has evolved with advances in e-commerce, mobile shopping, and data analytics, enabling personalized marketing, dynamic pricing, and streamlined fulfillment. Regulatory and social considerations, such as consumer protection, privacy, sustainability, and labor practices, influence retail operations. Historically, retail has progressed from markets and small shops to department stores, supermarkets, and, more recently, digital marketplaces and direct-to-consumer models.