Types or Methods of Retail Trade
1. Hawking: In this form of retail trade, goods are carried from one place to another, either on the head or in canoes or carts. Hawking is the cheapest and most popular means of retailing goods in West Africa.
2. Market Place Retailing: This is the method whereby retail traders agglomerate in a common meeting place to sell their goods.
Each trader has his own shed or stall or lock-up-store where he displays his goods inside and outside.
3. Street Retailing: This usually involves retail traders who display their goods along major streets in the cities.
4. Small Stores: These stores where goods are retailed are found in front of the residential houses of the retailers or in a building rented purposely for that type of business both in urban and rural areas.
5. Department Stores: In this form of retail business, many different stores that sell different goods are housed in a large 7. building under the same roof.
6. Multiple Shops: This form of retail business unit has many similar stores scattered all over the federation and each has a branch manager who takes instructions from the head office.
7. Self Service Stores: This is a form of retail business unit in which goods have price tags and are displayed on the shelves where customers serve themselves by gathering whatever they want to buy.
8. Supermarkets: This type of retail outlet has a resemblance of the self service stores; it deals mainly on household goods like fruits, fish, meat, butter, bread, can foods, frozen foods, fresh eggs, etc.
9. Mail Order Business: This is a form of retail business conducted through the post office. Customers send their orders through postal means and if agreement is reached between the seller and the buyer, the goods are sent to the buyer either by post or any means of transport.
10. Retail Co-operative Society: In this form of retail business, consumers come together, contribute capital in order to purchase goods directly from the manufacturers at cheaper rates and distribute to their members
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