Retail industry is a B2C (Business to Consumer) industry. Retailers directly sell to the end customers. Retailers buy from manufacturers and sell to end customers for a profit. The way they sell varies and happens across various channels, such as:
- Physical stores
- E-commerce portals
- Telephonic channel
- Online/Offline hybrid
- Social media
The various channels allow retailers to reach wider set of audience. The approach of selling across various channels is called omni-channel sales.
The physical stores are the traditional brick and mortar stores. This channel still continues to be popular for certain products. The physical stores give the customers the advantage of seeing, feeling, and trying the product before they purchase. The sales representatives at the store offer personalized touch and can provide valuable advice to the customers. The physical stores, though...