Retailer
Also called: Retail trader · Topic: Markets, Equilibrium and Government Intervention · NCERT: Class 6, Ch 14 "Economic Activities Around Us"; Class 7, Ch 12 "Understanding Markets"
Meaning
A retailer sells goods in small quantities to final consumers. These buyers use the goods themselves and do not resell them. The retailer is the last link in the chain: manufacturer → wholesaler → distributor → retailer → consumer. Retailers can also sell services. Salons, cinemas and restaurants are service retailers.
Example
Your neighbourhood grocer buys rice in sacks and sells you 2 kg at a time. Many such grocers keep monthly credit accounts for regular customers, which shows trust built over years.
Don't confuse with
- Wholesaler: a wholesaler buys and sells in bulk, mostly to retailers rather than to consumers.