The retailers earn a lot of profit by bulk buying goods or products from the wholesalers. However, there is a number of costs that need to be fulfilled by the retailers.
Some of them are listed below:
- To attract new customers, a retail industry requires advertising, which can be pricey.
- Because a retail market is ideal, it must shoulder the costs.
- Not to mention that sellers must pay their additional expenditures, such as electricity.
- A retail market requires daily care, and as a result, the domestic staff is bound to maintain the market/shop and be up to date.
- To have faster transactions, a retail store should have a Point of Sale (POS) system and an employee that knows how to use it. It’s also used to process credit and debit card transactions. Installing a Point of Sale (POS) system can be expensive.
- You will need additional personnel to run a retail store, such as cashiers, helpers, and support staff. The salary of these employees is an additional cost that a shop must face.
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