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Differences in functions between a wholesaler and retailer
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[QUOTE="Kingsley, post: 213646, member: 30278"] Business is all about trade and trade isI first buying and then selling. At one time the seller becomes the buyer and the buyer becomes sellers , so we can see that trade in highly interwoven. And for trade to be very effective and efficiency there are some aids that are very important, for instance we have, banking , insurance, communication, warehousing, transportation and the likes. Without all those auxiliaries trade would be highly ineffective. Now there are some physical actors that makes trade to take place, if this actor's are missing it will be difficult or impossfor it to take place these are the wholesaler and retailer, they are also called the middleman in the channel or chain of distribution. The wholesaler are those people who acquire goods or services from the manufacturer or producer in a very large quantity and resell to the retailers in a small quantity, sometimes they also give the retailer goods on credit to pay at a later date, The retailer on the other hand buys goods from the wholesaler in small quantities and resell at a smaller unit to the final consumer. Sometimes they give credit facilities to the final consumers and even discounts. [/QUOTE]
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