Retail is the process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit. Retailers satisfy the demand identified through a supply chain.
Once the strategic retail plan is in place, retailers devise the retail mix which includes the product, price, place, promotion, personnel, and presentation. In the digital age, an increasing number of retailers are seeking to reach broader markets by selling through multiple channels, including both bricks and mortar and online retailing.
Retail shops occur in a diverse range of types and in many different contexts – from strip shopping centers in residential streets to large, indoor shopping malls. Shopping streets may restrict traffic to pedestrians only.