I will summarize all that I have learned from chapter 1 of retail management subject. I kind of force myself to update this blog for not dragging it too long because there are many chapters are queuing to be uploaded. J
So, what did you know about retailing? Of course, you might think of big retailers in Malaysia such as Tesco isn’t? The retailer was a place where you can purchase for your personal of family uses in one stop center. From the retailers, we can get almost all products that we use daily such as groceries, toiletries, and laundry things. But, retailers are not concerning to be in an offline market they do have online retailers too such as Zalora for example which provides head to toe attire.
Of course, when we are purchasing from the retailer the price was a bit higher than the manufacturing cost, this is because it went through the distribution channel. There is 3 type of distribution channel, first, it selling directly to the consumer where the consumers have to buy in the large amount or in bulk. Second, selling trough retailer and lastly the producer is selling through the wholesaler. Please refer picture below to figure out more.
In the world chart, the first rank retailers are Walmart store while in Malaysia was Sen Heng in online retailers. Retail is a mainstay of many economies, and retailers are the ones who help connect consumers with the goods they want and need.
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