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Commerce Key Terms Glossary
Where to Buy
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Marian Stone
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WHOLESALER
- Buys goods in
large quantities
from
manufacturers
and then
sells
them to
retailers.
They specialize in
one
type of
good.
Advantages:
Cheaper
to buy in
bulk
than from
retailers.
Specializes
in
one
type of
good
, they will have more
variety
and
goods
and
services
Disadvantages:
They don't sell to consumers only
businesses
RETAILER
- A business that
sells
products to consumers
Advantages:
They sell a variety of goods for customers.
Disadvantages:
It's more expensive than buying from a wholesalers
It's inconvenient because you have to physically go to the store.
MAIL ORDER
- When consumers purchase goods from a catalogue for delivery by mail.
Advantages:
Its
convenient
because you don't have to physically go to the store.
Disadvantages:
The product might be
different
from what you thought because you can't inspect it
The product might be
delayed
ONLINE SHOPPING
- Purchasing products from over the internet
Advantages:
It's convenient, you can shop anywhere at any time.
Disadvantages:
You don't get the goods straight away
You could get scammed
Delivery fees
You can't use cash
You can't inspect the goods