When used as a noun, retail describes the sale of a product by a business (the retailer) to a consumer. When used as an adverb, retail describes the price point of the product. For example, when purchasing a computer part at a retail store, you'll pay the suggested retail price. Exceptions to this rule include the item being on sale, purchased as a brown box, sold as OEM, or refurbished.
Examples of types of retail stores
The following list includes examples of the different types of retail stores that sell to consumers in alphabetical order.
- Big box store - A store that specializes in a product. For example, Best Buy specializes in electronics.
- Department store - Store that sells many different types of products. For example, Target is an example of a department store.
- Discount store - A store that sells discounted items. Walmart is an example of a discount store.
- E-commerce store - An online website that sells products to a consumer over the Internet.
- Mom-and-pop store - A small store that often meets a specific niche and is run by a small business owner.
- Warehouse store - A store that specializes in low prices that are subsidized by a membership. Costco is an example of a warehouse store.
What is the difference between a retailer and a reseller?
A reseller is buying a product or service with the intention of reselling to another person or company. A retailer buys a product with only the intention of selling it to a consumer to meet his or her needs.