Etymology:
The word "retailing" originates from the Old French word "retaillier," which means "to cut up into small pieces."
Meaning and Origin:
Retailing refers to the sale of goods or services to consumers for their personal use or consumption. It involves the purchase of products in bulk from manufacturers or wholesalers and then selling them in smaller quantities to end-users.
The origin of retailing can be traced back to ancient times when merchants would travel to different towns and villages to sell their goods. However, it was not until the 19th century that retailing began to take on its modern form with the establishment of department stores and chain stores.
Development of Retailing:
Over the years, retailing has evolved significantly, with the emergence of various store formats, distribution channels, and technologies. Some of the key milestones in the development of retailing include:
Types of Retailing:
Today, there are numerous types of retailing businesses, each with its own target market and sales approach. Some of the most common types include:
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