survival of the fittest
Retail is the final stage of any economic activity, by fact retail occupies an importantplace in the world’s economy (USD 1 Trillion) , in an attempt to understand the scope of the term retail , various definitions of retail term has been examined ,“Retailing includes all the activities including in selling goods or services to the finalconsumer for personal, non-business use. A retailer or retail store is any businessenterprise that’s primarily from retailing”.French word
Which means to cut a piece or to break bulk. Therefore, a retailer may be defined as a dealer or trader who sells goods in small quantities or one whorepeats or relates .In an age where the customer is the king and marketers are focusingon the customer delight ,
retail may be redefined as the first point of customer contact .
Provide Form, of a product that is acceptable to the customer Time Utility , by keeping the store open when the consumer prefer to shopPlace Utility, by being available at a convenient locationOwnership Utility, when the product is sold to the end consumerRetail Equation
the process by which individuals and groups obtain what they need andwant through creating, offering, and freely exchanging products and services of valuewith others, also the management process responsible for identifying, anticipating andsatisfying customer requirements profitably.