TRADE (a) HOME TRADE

Home trade involves buying and selling goods within a country's borders. Retail trade is when shopkeepers sell small quantities directly to consumers like you buying Indomie from Mama Tayo's shop. Wholesale trade happens when big traders buy large quantities from manufacturers and sell to retailers in bulk.

Retailers play an important role by making goods available in convenient locations. They must consider factors like capital, location, type of products, and competition before starting. Successful retailers like those running Shoprite stores across Nigeria understand their customers' needs and manage stock wisely.

Different retail outlets exist: hawkers selling fruits on streets, kiosks in neighbourhoods, supermarkets like Woolmart, and department stores. Each has different advantages—hawkers have low costs while supermarkets offer variety and comfort.

Wholesalers buy directly from factories in large quantities and store goods in warehouses before selling to retailers. They bridge manufacturers and retailers, making distribution efficient.