(a) List four types each of: (i) Small scale retailers. (ii) Large scale retailers. (b)...
(a) List four types each of:
(i) Small scale retailers.
(ii) Large scale retailers.
(b) Explain four reasons why small scale retailers survive despite the dominance of large scale retail outlets.
Explanation
(a) Types of small and Large scale retailers
| small scale Retailer | Large scale Retailers |
| Itinerant trader /hawker / peddlers | Departmental store |
| Roadside traders | super markets |
| Market traders | multiple / chain store |
| village stalls | Cooperative stores |
| Unit stores/tied shops | mail orders firms |
| mobile shops | supermarkets |
| Kiosks | Hypermarket |
(b) Small retailers survive as a result of:
(i) Amount of capital required for a small retail business is minimal and this offers an opportunity to many in an economy where incomes are generally low.
(ii) Ability of small retailers to combine retailing business with other work such as farming.
(iii) Quick decision taking allows small retailers to adapt to changing situation.
(iv) Overhead costs are very low.
(v) The retailer can obtain the help of his family cheaply, often on part-time basis.
(vi) The small retailer gives personal service and attention to customers in such a way that the large firms cannot.
(vii) The small scale retailer sells in smaller unit and as a result attracts more buyers.
(viii) There is little or no formality required in their set up or operation.
(xi) The small scale retailer can easily relocate to take advantage of market situation.