Retail is not new if we will check the history of retail we can find that it is as old as human beings. For the last many centuries the concept of retail didn't change. In ancient times people use to exchange cows & sheep's to fulfill their needs.
The proper currency transaction started way back in 3000 BC in Mesopotamia. The very first retail store was started in ancient Greece in 800 BC, in ancient Greece the concept of retail was developed. Since then many countries developed retail in many ways.
Let's take a deep dive into the world of retail which is a small word but as a concept, it is bigger.
What is Retail
Before we take a deep dive first lets us understand "What is Retail".
"Retail is the sale of goods and services to the end-users to make the profit. "
Retail can take place in-store & online as well. In another way we can say that retail is the final stage of the distribution where less quantities of good (& services) are sold directly to end-users for their own use. The term less quantity & directly to end-user makes the difference between retail & wholesale.
In Retail, one more is a very important & that is "Retailer" which starts the process of retail, so "What is Retailer" a retailer can be a person or business from which end users can buy the products. They are not the manufacture of the product however retailer buy the products from wholesaler, manufacturer & distributor & start selling to end-users. Retailers always sell the products in small quantities.
In Retail, there are 4 main participants
Manufacturer: Who manufacture the products
Wholesale: Who buys the order in bulk
Retailer: Who sell the products in small quantity
End-Users: Who buys from retail shops for personal use.