Definitions
- Referring to a person or business that buys and sells goods, often in large quantities. - Talking about someone who is involved in trade or commerce. - Describing someone who is engaged in selling products or services for profit.
- Referring to a person or business that sells goods directly to consumers. - Talking about a store or business that specializes in selling specific products or services. - Describing someone who purchases goods from wholesalers and sells them to individual customers.
List of Similarities
- 1Both involve selling goods or services for profit.
- 2Both can be individuals or businesses.
- 3Both can purchase goods from wholesalers or manufacturers.
- 4Both can operate in physical stores or online.
- 5Both require knowledge of the market and customer needs.
What is the difference?
- 1Scope: Merchant typically refers to someone who buys and sells goods in large quantities, while retailer focuses on selling goods directly to consumers.
- 2Location: Merchant can operate in various locations, including markets, fairs, and trade shows, while retailer usually operates in a physical store or online.
- 3Specialization: Retailer often specializes in selling specific products or services, while merchant can sell a wide range of goods.
- 4Customer base: Retailer targets individual customers, while merchant may sell to other businesses or individuals.
- 5Price: Merchant often deals with larger transactions and negotiates prices with suppliers, while retailer sets prices based on consumer demand and competition.
Remember this!
Merchant and retailer are both involved in selling goods or services for profit, but they differ in scope, location, specialization, customer base, and pricing. A merchant typically buys and sells goods in large quantities, while a retailer focuses on selling goods directly to consumers in a physical store or online.
