Goods move from producers to consumers through many hands. A retailer is the business that sells those goods directly to the final consumer. Retailers operate physical stores, online shops, or both. They assemble assortments, provide convenience, offer advice or service, and often extend credit or accept returns.

Retail formats range from department stores and specialty shops to discount chains, convenience stores, and pure-play e-commerce sites. Margins are typically thin; success depends on volume, location or traffic, inventory management, and the ability to create a compelling shopping experience. Private-label products and exclusive brands are tools many retailers use to differentiate and improve profitability.

The rise of digital channels has forced traditional retailers to integrate online and offline experiences. Pure online retailers face their own challenges of customer acquisition cost and fulfillment. Regardless of format, the retailer remains the final link in the distribution chain and the primary interface most consumers have with the products they buy.