Describe any four functions of retailers

The functions of retailers are as follows :

  1. Financing : Retailers provide goods to the consumers on credit basis. This increases the level of consumption and hence the standard of living.
  2. Supplying market information : Since the retailer is in direct contact with the consumers, he provides information regarding their tastes, preferences and attitudes, etc. to the wholesaler. This information helps them in taking important marketing decisions.
  3. Convenience in buying : Retailers provide goods to the consumers according to their requirements. Usually, they are situated near the residential areas and remain open for long hours.
  4. Risk bearing : A retailer has to bear the risk if the change in style and fashion occurs when the goods are stored in large quantities in the warehouses.