The retail industry is vital to the UK economy. In 2018 it generated £381 billion worth of retail sales, but what is retail? The retail industry encompasses shops, department stores, supermarkets, market stalls, door-to-door salespeople and internet retailers. The industry is responsible for the distribution of finished products to the public.
Retail includes all shops and stores that sell goods to shoppers, i.e., the ultimate consumer. In addition to traditional bricks-and-mortar shops, the retail sector includes mail-order and online businesses. Retailers are involved in B2C transactions. B2C stands for business-to-consumer.