Retail refers to the process of selling goods or services directly to consumers for personal use. It encompasses a variety of transactions that occur between businesses and individual customers, typically through physical stores, online platforms, or a combination of both. Retail can involve a wide range of products, from clothing and electronics to food and household items.
In a retail setting, the retailer purchases products from wholesalers or manufacturers and then marks them up to sell at a profit to end customers. Retail businesses vary in size and format, including department stores, grocery stores, specialty shops, and e-commerce sites. The retail industry plays a critical role in the economy by providing products to consumers, creating jobs, and contributing to overall economic activity.
Additionally, retail involves various aspects of marketing, customer service, and inventory management to enhance the shopping experience and maximize sales. It often includes strategies for pricing, merchandising, and promotions to attract and retain customers in a competitive marketplace. Overall, retail serves as a direct link between producers and the consumers who ultimately use the products.
Sainsbury's has reduced its price-matching list from 681 to 606 items, indicating a strategic shift in the price war with Aldi. Key staples such as granulated sugar and flour have…