Retailers And Wholesalers Flashcards, test questions and answers
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What is Retailers And Wholesalers?
Retailers and wholesalers are essential components of a functioning economy. Retailers buy goods from wholesalers and then sell them to consumers. Wholesalers purchase goods in bulk from manufacturers, producers or other suppliers, store them in their warehouses, and then resell them to retailers at a higher price. Both retailers and wholesalers are vital elements of the supply chain as they enable goods to be made available for sale to customers in an efficient manner. Retailers typically operate stores or e-commerce websites that offer goods directly to consumers at retail prices. They often buy products from wholesalers who provide them with bulk quantities of items at lower prices than they could find elsewhere. Retailers set their own pricing structure on products that they acquire from wholesalers, taking into account competitive market conditions such as the availability of similar items elsewhere, the cost of production or transportation, their desired profit margin, etc., before offering it for sale to customers. Wholesalers play a critical role in the supply chain by providing retailers with access to bulk quantities of goods at discounted prices which can be passed on to customers in the form of lower retail prices. Wholesale distributors also help streamline inventory management by ensuring that retailers have access to stock if demand increases unexpectedly – this helps keep shelves stocked with popular items while avoiding excess inventory costs associated with overstocking shelves during times when demand is low. Some wholesale distributors may also package and brand products for sale under private labels which can help increase profits for both themselves and their retail partners who may benefit from additional sales due to increased recognition for these private label brands among consumers. In conclusion, both retailers and wholesalers are important stakeholders within any economy as they play an essential part in enabling businesses to acquire necessary supplies while simultaneously allowing consumers access to these same supplies via retail outlets at competitive prices – without one role or another there would be no efficient way for buyers and sellers alike to acquire what they need in order ease both productivity (for businesses) as well as satisfaction (for shoppers).