Services offered by Retailers
Retailers are business enterprises involved in selling goods and services directly to the ultimate customer. They buy goods from wholesalers in large quantities and sell them in smaller quantities to the ultimate customer. Apart from buying and selling, retailers are also involved in the promotions, after-sales services, and are information providers. They extend their support to wholesalers and manufacturers as well as to the end consumers in various ways.
Services offered by Retailers to Wholesalers and Manufacturers:
1. Helps in the distribution of goods: Retailers are last in the distribution chain. With the help of retailers, finished products are delivered to the final consumers. Manufacturers and wholesalers cannot reach directly to the end consumers as they are less in number, so they need retailers who can directly engage with the end consumers.
2. Personal selling: Retailers provide a personal touch in the buying and selling process. They interact directly with the customers and infuse personal selling efforts into the process. Retailers act as a representative of the manufacturers and help them in the process of actualising the sale of the products.
3. Enabling large-scale operations: Retailers allow manufacturers and wholesalers to be free from the tension of individual sales to final consumers. Wholesalers and Manufacturers can focus on other necessary activities.
4. Collecting market information: As retailers are in direct contact with the final customers, they can gather information from them and pass it to the wholesalers and manufacturers about the tastes, preferences and attitudes of customers. With the help of such information, important marketing decisions can be taken.
5. Help in promotion: Manufacturers and Distributors carry out various promotional activities from time to time to increase their sales. Retailers participate in these activities to make them successful. Manufacturers, with the help of retailers, offer coupons, gifts, etc., to consumers as part of promotional activity.
Services offered by Retailers to Customers:
1. Regular availability of products: The most important aspect of a retailer is to maintain the regular availability of products for the end consumers, which enables the buyers to choose from various products.
2. New product information: Retailers are the last element in the distribution channel. They give information to consumers about new products or services through the effective display of products and personal selling efforts.
3. Convenience in buying: Retailers are situated very near to the residential areas and operate for long hours, which gives convenience to the customers as they can buy products at times they need.
4. Wide variety of products and services: Retailers offer a wide range of products and services to the consumers, so that they can select products and services based on their use, preference, needs and choice. Having various options to choose from is always good from the point of view of a customer.
5. After-sales services: Retailers provide important after-sales services that include home delivery, supply of spare parts, pre-installation services, online support, etc., which becomes a vital element in the customer’s decision to repeat the purchase of the products.
6. Provide credit facilities: Sometimes, retailers offer products on credit to their regular customers, which increases customers’ level of consumption and satisfaction, and ultimately improves their standard of living.