Retail

Retail refers to the business activity of selling goods or services directly to consumers. Typically conducted in storefronts or physical locations, retail is a key component of the consumer market, where products are sold in single or small quantities to end users. This traditional form of retailing is often referred to as "Brick and Mortar" to distinguish it from online retailing.

In a brick-and-mortar retail setting, transactions are commonly completed with "Card Present" payments. This means that the customer physically presents a payment card, such as a credit or debit card, to the merchant at the time of purchase. The card is then swiped, inserted, or tapped into a card reading device to process the transaction. This method of payment ensures that the card is physically verified by the merchant, which can reduce the risk of fraudulent transactions.

Retail merchants operating in physical locations offer the distinct advantage of providing customers with a tactile shopping experience, where they can physically examine products before purchasing. This interaction also allows for immediate ownership of goods, which is particularly appealing for items that customers wish to use or gift immediately.

Retail businesses range from small, independently owned shops to large chain stores, each offering a variety of products and services to cater to the diverse needs and preferences of consumers. These establishments often enhance the shopping experience by providing additional customer services such as personal assistance, returns and exchanges, and loyalty programs. The physical presence of retail stores also contributes to the local economy, offering employment opportunities and serving as community hubs.