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Retail

Retail

NAICS industry sector 44-45 - establishments engaged in retailing merchandise, generally without transformation, and rendering services incidental to the sale of merchandise.

The Retail Trade sector comprises establishments engaged in retailing merchandise, generally without transformation, and rendering services incidental to the sale of merchandise.

The retailing process is the final step in the distribution of merchandise; retailers are, therefore, organized to sell merchandise in small quantities to the general public. This sector comprises two main types of retailers: store and nonstore retailers.

1. Store retailers operate fixed point-of-sale locations, located and designed to attract a high volume of walk-in customers. In general, retail stores have extensive displays of merchandise and use mass-media advertising to attract customers. They typically sell merchandise to the general public for personal or household consumption, but some also serve business and institutional clients. These include office supply stores, computer and software stores, building materials dealers, plumbing supply stores, and electrical supply stores. Catalog showrooms, gasoline stations, automotive dealers, and mobile home dealers are treated as store retailers.

In addition to retailing merchandise, some types of store retailers are also engaged in the provision of after-sales services, such as repair and installation. For example, new automobile dealers, electronics and appliance stores, and musical instrument and supplies stores often provide repair services. As a general rule, establishments engaged in retailing merchandise and providing after-sales services are classified in this sector.

The first eleven subsectors of retail trade are store retailers. The establishments are grouped into industries and industry groups typically based on one or more of the following criteria:

(a) The merchandise line or lines carried by the store; for example, specialty stores are distinguished from general- line stores.

(b) The usual trade designation of the establishments. This criterion applies in cases where a store type is well recognized by the industry and the public, but difficult to define strictly in terms of merchandise lines carried; for example, pharmacies, hardware stores, and department stores.

(c) Capital requirements in terms of display equipment; for example, food stores have equipment requirements not found in other retail industries.

(d) Human resource requirements in terms of expertise; for example, the staff of an automobile dealer requires knowledge in financing, registering, and licensing issues that are not necessary in other retail industries.

2. Nonstore retailers, like store retailers, are organized to serve the general public, but their retailing methods differ. The establishments of this subsector reach customers and market merchandise with methods, such as the broadcasting of "infomercials," the broadcasting and publishing of direct-response advertising, the publishing of paper and electronic catalogs, door-to-door solicitation, in-home demonstration, selling from portable stalls (street vendors, except food), and distribution through vending machines. Establishments engaged in the direct sale (nonstore) of products, such as home heating oil dealers and home delivery newspaper routes, are included here.

The buying of goods for resale is a characteristic of retail trade establishments that particularly distinguishes them from establishments in the agriculture, manufacturing, and construction industries. For example, farms that sell their products at or from the point of production are not classified in retail, but rather in agriculture. Similarly, establishments that both manufacture and sell their products to the general public are not classified in retail, but rather in manufacturing. However, establishments that engage in processing activities incidental to retailing are classified in retail. This includes optical goods stores that do in-store grinding of lenses, and meat and seafood markets.

Wholesalers also engage in the buying of goods for resale, but they are not usually organized to serve the general public. They typically operate from a warehouse or office, and neither the design nor the location of these premises is intended to solicit a high volume of walk-in traffic. Wholesalers supply institutional, industrial, wholesale, and retail clients; their operations are, therefore, generally organized to purchase, sell, and deliver merchandise in larger quantities. However, dealers of durable nonconsumer goods, such as farm machinery and heavy-duty trucks, are included in wholesale trade even if they often sell these products in single units.

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Richard Partington Economics correspondent
September 17, 2021
the Guardian
Consumers switched from spending in supermarkets to dining out in August, says ONS
Shayan Ghosh
September 7, 2021
mint
Banks aggressively push retail credit amid lacklustre demand from companies
Julia Kollewe
August 20, 2021
the Guardian
A GAP clothing shop with a closing down sale in Oxford Street, London. Photograph: Vickie Flores/EPA
August 19, 2021
The Economic Times
"Point-to-point rate of inflation based on the CPI-AL (Consumer Price Index for Agricultural Labourers) and CPI-RL (Consumer Price Index for Rural Labourers) stood at 3.92 per cent and 4.09 per cent in July 2021, compared to 3.83 per cent and 4 per cent, respectively, in June 2021," the labour ministry said in a statement.
August 17, 2021
https://www.outlookindia.com/
The RAI report released Tuesday reveals that retail businesses in south India have indicated a very sharp comeback in July 2021 with sales at 82% of the pre-pandemic levels (July 2019), as against 50% sales in June 2021.
August 12, 2021
The Times of India
India Business News: Retail inflation based on consumer price index (CPI) eased to 5.59 per cent in the month of July as against 6.26 per cent in June, government data sho
August 12, 2021
https://www.outlookindia.com/
The Consumer Price Index (CPI) based inflation was 6.26 per cent in June and 6.73 per cent in July 2020.
August 7, 2021
The Economic Times
The bank reported a net profit of Rs 1,209 crore from a loss of Rs 864 crore a year ago on the back of a 16% growth in net interest income (NII) to Rs 7,892 crore.
August 6, 2021
The Economic Times
Retail ownership of companies listed on the National Stock Exchange (NSE) reached an all-time high in the June quarter, with participation of individual investors in Indias capital markets surging through a period of sustained gains for the broadest benchmark indices.
Sundar Sethuraman
August 4, 2021
@bsindia
Market experts say buoyed by returns from recent IPOs, retail investors are now subscribing to all offers being launched. The last four firms to list have seen gains of 65-113% on the first day
Abhijit Lele
July 30, 2021
@bsindia
Loans to agriculture and allied activities showed an accelerated growth of 11.4 per cent in June 2021 as compared to 2.4 per cent in June 2020
July 30, 2021
The Economic Times
According to the statement, food inflation stood at 5.61 per cent against 5.26 per cent in May 2021 and 5.49 per cent in June 2020.
July 29, 2021
The Economic Times
That isn't surprising. More than half of all IPOs in the last two years did better on listing day compared with returns over a year, analysts said. Short-term retail investors who exit on the first day have been rewarded with big gains if the new listing has enough of a buzz.
July 29, 2021
Moneycontrol
Of the total slippages in the April-June quarter, close to 45 percent came from the MSME sector, said the bank's MD & CEO Rajkiran Rai G.
Press Trust of India
July 22, 2021
@bsindia
Retail investors interest in the Indian securities market has sharply increased to an average of 2.45 mn Demat accounts opened per month during April-June, Sebi chief Ajay Tyagi said on Thursday.
July 19, 2021
news.google.com
Pan-India retail sales saw a de-growth of 50 percent in June 2021 in comparison to pre-pandemic levels of June 2019, says Retailers Association of India.
Rangoli Agrawal, howindialives.com
July 13, 2021
mint
Bank loans to individuals are on the verge of leapfrogging loans to industry to become the largest segment in the credit book of Indian banks. The rise highlights the anaemic lending to industry and also contains potential new threats to Indian banks
Shrimi Choudhary
July 12, 2021
@bsindia
Retail inflation remained elevated due to soaring fuel prices and costlier items in the food basket.
July 5, 2021
The Economic Times
"Barring masoor dal, prices of all other pulses have declined continuously in the last 4-5 weeks both in retail and wholesale markets," Pandey said in a virtual press briefing.
Technavio
June 23, 2021
www.prnewswire.com:443
/PRNewswire/ -- The digital transformation market in the retail sector is expected to grow by USD 137.05 billion during 2021-2025, according to Technavio. The...
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