Retail

1) What is a definition of retail and a wholesale trading? What are three major differences? Are there also some common things?

Retail is kind of business, when products sells in small amount but with more expensive price. Wholesale is visa versa, sells in bulk price and more amount of entity. Mostly in bulk price businesses can buy directly from producer company. The wholesale and retail mostly depends on kind of product. For example more unique and hand-made or jewelry products sell mostly in retail. Household products, vegetables and fruits are mostly you can buy in bulk price. The differences between them are: price, quantity of product and quantity of clients. The common sides of retail and wholesale businesses are both of them can have discounts promotions; both of them can have several branches, both can sell directly to the end customer (for example Laima chocolates are wholesale company, which sell to end client and to dealers)

2) Name at least seven different types of the retail and shortly describe them (maximum 10). Also give examples from the real life in Latvia or Worldwide.

Types of retails:

1. Department retail- store where products divided to several departments, for example Stockman

2. Supermarket- the store where all kind of products smaller amount than in department retail and more grocery products then clothes or other products. Mostly supermarkets consists of only 1 floor. For example, Rimi, Maxima.

3. Hypermarket-is big store, which combine supermarket and department store. For example, Rimi Hypermarket, Prisma.

4. Discount store- store, where you can buy products with big discounts, however not all people from outside can buy for discount. To buy in discount store mostly client should be member of the store and pay some amount of money each year. For example, Sam’s club, where you need to pay 40 USD each year to maintain membership.

5. Cash and carry- the store, where you can buy products in bulk price. Mostly...