Welcome to Retail Definitions

4. even though ownership is typically limited to a single or small number of owner investors, private businesses can be large companies with many retail locations and centralized business operations.
5. retailing Offers customers the opportunity to interact with multiple options in their ecosystem.
6. produces finished products.
10. people who purchase goods or services from a business.
11. retailing integrates the channels to create seamless consumer experience through technology.
12. typically a single store or a small, regional chain, these retailers are able to tailor their offerings to meet the needs of local customers.
14. a store which sells directly to customers.

1. an interconnected system of approaches for meeting the goal of retailing, which is to provide customers with the merchandise and service they want when, where and how they want to experience and purchase them.
2. a business owned by shareholders through publicly traded stock.
3. a business or person that sells products and/or services to customers.
7. a license is granted to another entity to retail a customer's products or services in a particular area; consistency in the customer experience is critical.
8. buys large quantities of products directly from the manufacturer and then sell smaller amounts of retailers.
9. physical goods that are brought and sold.
13. intangible, can not be physically owned by the customer.