Retail

The retail industry is a sector of the economy that is comprised of individuals and companies engaged in the selling of finished products to end user consumers.

The retail field consists of supermarkets, department stores, chain stores, specialty stores, variety stores, franchise stores, mail-order houses, online merchants, and door-to-door sellers. Retail stores buy their goods from wholesalers, stock the goods, and resell them to individual consumers in small quantities. Retailers must know their customers’ needs and wants, and they must also advertise and attractively display the goods they sell.