Challenges of Retail Business

[Golden9]

One of the challenges is of a retail business is that there are usually a lot of middlemen who have incurred costs that they transfer to retailers, hence making your products more expensive.

Retail businesses usually have smaller capital too, which forces them work on a small scale.

 

[IB D]

That's true. It's the retailer that faces the customer. He is the one to explain everything to the customer. The producer and middleman are immune from customer's insults and drama.

 

[Shavkat]

If I have the chance, I would prefer a wholesale business than retailing. I prefer to be the direct supplier to the companies physically.

 

[hastral45]

Apart from this additional cost from the middlemen in retailers hip, there is also problem of over stocking of commodities before the final consumers would purchase them.

 

[cherry123]

One of the challenges is of a retail business is that there are usually a lot of middlemen who have incurred costs that they transfer to retailers, hence making your products more expensive.

Retail businesses usually have smaller capital too, which forces them work on a small scale.

The issue of small capital came to my mind. You would not be able to expand easily because of this.

 

[eldavis]

Retailers are usually the ones who get to convince the customers about new products and latest updates cause they are the closest to the final consumers which is the customers.

 

[Niyi Briggs]

The retailer is subject to the whims and caprices of the wholesaler. First of all, he buys the products at a higher price and that's a disadvantage

 

[Springtime]

Retailers, big and small, face some of the following challenges.
1. Attract new customers
2. Retain loyal customers
3. Keep up with customers needs and offer products which meet with their expectation
4. Supply chain management. Source for reliable suppliers and maintain good relationship with them

 

[astutimeliana723]

Challenges in the retail business include price competition, changes in shopping trends, maintaining consumer loyalty, declining consumption and people's purchasing power, Reduced profits and high purchase prices make the selling price increase, and so on.

 

[IB D]

As a retailer, plan and target to buy in large quantities at once. One disadvantage they face is fluctuation in prices. They sell off and go to the market and cannot buy stock again.

 

[Magnus2022]

One of the major challenges of retail business is lack of fund. When funding is limited, a business can not reach expected growth. Moreover, the profit from a retail business is so small that it is not enough to sustain the business .

 

[IB D]

One of the major challenges of retail business is lack of fund. When funding is limited, a business can not reach expected growth. Moreover, the profit from a retail business is so small that it is not enough to sustain the business .

I heard that someone would sell a whole carton of a product and the gain is 100 naira. I can't do that kind of business. The profit margin is not encouraging with all the limitations they face.

 

[Niyi Briggs]

Sometimes, retailers are the ones who get to discover defective goods and can't even sell them. I have had so many cases where I want to buy headsets and it is brought out from the pack, only one side is playing. That's already a loss to that retailer.

 

[Stardom22]

The major challenge for the retail business is that, there exists a stiff competition between the wholesalers and the retailers Who would also sell items in retail but on the wholesale prices.

 

[Reedex]

The greatest challenge of retail business is that they are close to the end-users and they received direct complaint.

 

[cherry123]

Retailers or the retail business depends heavily on the wholesaler. They buys the products at a higher price as thd wholesalers nedd to make their profit too So no much gain

 

[timewo]

Often pests like rats and mice can damage the items which are stored by the retail business , and these damaged items have to be thrown away in most cases. So the items should be stored, so that pests cannot cause damage.

 

[Fidelia]

One challenge with retail business is to balance inventory to have products readily available and to avoid expired products.