(a) Give two examples of small-scale retail outlets and three examples of large- scale retail outlets
(b) Explain five reasons for the survival of small-scale retailers.
Explanation
(a) Examples of small - scale retail outlet are:
(i) Hawking
(ii) Street retailing
(iii) Small stores
(iv) Mobile shops
(v) Tied shops.
(vi) Vending machines.
Examples of large- scale retail outlet are:
(i) Departmental stores
(ii) Super markets
(iii) Multiple stores
(iv) Hypermarket.
(v) Co-operative shops
(vi) Mail order.
(b) Reasons for the survival of small - scale retailers are:
(i) Small scale retail trade requires small capital.
(ii) It provides door -to - door services and customers do not have to go far in order to get their needs.
(iii) Low overhead cost.
(iv) Prices of goods sold in small scale retail outlets are low.
(v) There is incentive for hardwork since ownership instills pride and the drive for success.
(vi) Small scale retail trade is carried out with flexible policies, rule and regulation.
(vii) Decision making is quick.
(viii) Small retailers enjoy greater flexibility in opening hours.