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| Name | What is Retail? | How Retailers Make Money | Retail Dogma |
| Video Uploader | Video From Retail Dogma |
| Upload Date | This Video Uploaded At 11-05-2022 14:32:09 |
| Video Discription | Free resources for retailers https://www.retaildogma.com/learn/ What is retail? Why is it so important for the economy? Retailing is the final step in distribution of merchandise, where retailers sell merchandise directly to the end consumer in small quantities. Retail is one of the most vital sectors of the economy. It supports 1 in 4 U.S. jobs and contributes 7.7% to the U.S. GDP How Does The Business Model Work? The business model of retailing involves buying merchandise in large quantities from wholesalers (or manufacturers) at low price and selling it in small quantities to the general public at higher price. The difference in price is called gross profit. In order to deliver such a service, retailers perform a lot of activities through different functions in the business These include: Product Sourcing Marketing & Branding Store Operations Merchandising And Sales They also rent different stores, offices and warehouse locations. Retailers spend part of the gross profit they earned from selling the merchandise at the stores on running such functions and paying those rents, and at the end they generate a smaller pre-tax profit Learn More: https://www.retaildogma.com/what-is-retail/ Read Also: How do retail stores make money? https://www.retaildogma.com/how-do-retail-stores-make-money/ Download the Retail Business Model Canvas template for your business https://www.retaildogma.com/retail-business/ ABOUT US: Retail Dogma is an online platform that teaches retail & ecommerce; from the very basic knowledge for beginners, to the most actionable, technical, advanced knowledge. All the materials are prepared by professional retailers with more than 14 years of experience. We cover everything, from buying products, pricing, merchandising, managing sales, managing inventory, managing cash flow to managing financials. Visit our website and start reading through our free retail management guides and articles, and download our free templates and cheat sheets that will help you while starting a retail or ecommerce business. π Learn Retail & Ecommerce Management https://www.retaildogma.com/ FREE DOWNLOADS: - Retail Math Formulas Cheat Sheet - Retail Business Plan Template - Shrinkage Action Plan - Fashion Boutique Opening Checklist - Store Signages & Posters β¬οΈ Downloads: https://www.retaildogma.com/downloads/ USEFUL LINKS: π Retail Benchmarks: https://www.retaildogma.com/retail-benchmarks/ β Retail Math Formulas Cheat Sheet: https://www.retaildogma.com/retail-math-formulas/ π Retail Management Courses https://www.retaildogma.com/academy/ π οΈ Business Tools https://www.retaildogma.com/business-tools/ HaA2hBxiz24 |
| Category | People & Blogs |
| Tags | retail | ecommerce |
