Table of Contents
Retailers provide the service of making goods available to consumers in convenient quantities and locations. Retailing involves buying from wholesalers or direct from manufacturers, breaking bulk, displaying goods for sale either physically or online, and sometimes delivery. Wholesalers are independent organizations in the distribution channel that buy in bulk and sell to resellers rather than to consumers. Both retailers and wholesalers take ownership of the goods and so bear the risk of carrying inventory. They also reduce the total number of transactions required for the process of transferring goods from manufacturers to consumers.
The total value of the retail & wholesale market globally in 2015 was $x billion. Related to a world population of more than 7.3 billion in 2015 this equates to about $x per person globally. Given that World Domestic Product was approximately $73.5 trillion in 2015, the industry accounts for up about x% of the global economy.
E-commerce Stores Setting up Offline Stores – In 2014, many e-commerce retailers started offline stores. Birchbox, an e-commerce store opened its first physical store in Soho and companies like Bonobos and Warby Parker doubled the number of their brick and mortar stores in 2014. E-commerce retailers setting up offline stores are good news for brick and mortar concept because it validates the need for physical stores.
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