#Burnsteem 🌺club75|| A Business activists -Difference between wholesale and retail business?||10% & 25% beneficiaries for @steemkindness &@null by @forhadmiya 🇧🇩
Assalamu Alaikum, dear brothers and sisters, how are you all? Hope you all are well by the grace of Allah. I am also fine by the grace of God. Today I will discuss with you the difference between wholesale and retail business. Hope everyone likes it.
What is wholesale?
Wholesaling is the act of buying large quantities of goods from manufacturers and selling them to retailers in small quantities.
Goods are delivered from the wholesaler to the retailer. The characteristics of this business are - collection of products, buying and selling of products in large quantities, number of products, sale of products to consumers, wholesale business position, high capital and excessive risk taking.
What is a retailer?:
The act of selling goods to the final consumer is called retailing.
The characteristics of retailing are: an intermediary business between wholesaler and consumer, retailers buy goods from wholesalers in small quantities, retailing requires less capital. Retail business does not have the risk of commodity price fluctuations.
Other activities involved in this business apart from communication are: forecasting, fetching, selling, storage, product decoration, transportation, risk taking, segmentation, packaging, promotion, selling on loan, product pricing, after sales service and information provision.
The difference between wholesale and retail business is discussed below:
| Subject | wholesale | retailer |
|---|---|---|
| The nature of the relationship | Wholesaler relationships are developed with manufacturers and importers. | It has a relationship with the ultimate consumer. |
| Amount of capital | A lot of capital is required. | Requires relatively less capital. |
| Storage of goods | The wholesaler stores the goods in its own warehouse or in a rented warehouse. | Retailers store goods in their stores for a short period of time. |
| Business Expansion | Wholesalers supply products to different regions of the country. | Retailers' business is limited to local areas. |
| Business location | Good communication system and low maintenance cost are considered in the selection of business location. | Attention is paid to attractive location, convenient location and decoration as it is necessary to attract consumers directly. |
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