Essay on Retail: Connecting Wholesalers and Consumers for a Successful Economy

The retail industry is concerned with producing goods and services and reaching the ultimate consumer. It facilitates the secure packaging and delivery of products to all segments of the economy. Retail is the final aspect of marketing that connects the wholesalers and the customers. It is an essential industry in the marketplace since it allows consumers to access a variety of products effectively. It provides adequate utilities and offers sufficient time and space for ensuring consistency and improvement of the product's image. The retail industry plays a significant role in the market as they store goods for consumers when there is scarce and allows branding, packaging, and setting affordable prices for the consumers. It will enable consumers to make appropriate choices and creates flexibility, therefore, providing customer convenience.

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The retail industry in Texas is among the leading firms in the state. It is one of the nation's state economies that drives the economic functions of the United States environment. It creates jobs among the people and opportunities in the marketplace. The retail sector is found in all parts of Texas. The industries in Texas have developed full employment, created a significant impact on the GDP, direct labor income, and supported retail establishments in the economy (Smith & Zentner, 2016). The retail industry in Texas provides sustainability and continuity in the commercial sector.

Dallas has various best retailing companies in the economy that consumers can find their products and services efficiently. With the advancement in technology and the internet growing use, Dallas is rapidly growing in digital retailing. The increase in e-commerce in the contemporary world has allowed Dallas to develop strategies and ensure that its products can reach the ultimate consumer and affordable. The digital retail concept is rapid to assess and cheaper in terms of financial constraints creating more comprehensive selections of products. Despite Dallas having retail shops and stores that customers can purchase their products, they have built their businesses internationally by extending its market to all buyers all over the world through e-commerce. The retail industry has increased the living and pay standards of various individuals and firms. The best and effective retail companies in Dallas include the Neiman Marcus Group, which provides luxury products and Hilburn that creates active to wear apparel and various accessories, suiting consumer preference, among others.

The retail industry in Dallas is essential in that it creates higher annual sales for the firm and creates employment opportunities. When higher revenues are generated, then firms can expand their companies, therefore, making Texas among the top retail states in the United States. It allows accessibility where products that do not have value for the people in the economy are stored until the rate of demand increases. This industry is vital in the marketplace and to the consumers since it performs marketing functions. Retailing in Dallas allows the firms to assemble various products and services from multiple places to one set location where consumers can choose according to their tastes and preferences (Usui, 2016). It also ensures that there is the convenience of a size where the retailer firms breakbulk into desirable sizes and quantities and to the rate in which a consumer can afford.

The Dallas retail industry provides its products across the region and within the state of Texas. However, it ensures that its products meet international and national perspectives through the use of digital retailing. The use of technology and e-commerce has allowed various companies to trade their products internationally and achieve their objectives in the long run. Companies like Amazon use e-commerce and technology in selling their products to the consumers, and this is the strategy that various retail companies in Texas have adopted. It also provides associated services where the retail segments benefit the customers through creating available products and services.

The supply chain of Texas is efficient and an integrated system. The products are bought from wholesalers at a discounted price and broken down to meet the preferences by generating profits in selling to consumers. There are various retailers strategies used, and the lengths of an assortment of products depend on the retail sector objectives. The retail sector in Dallas creates a value chain through replenishing stocks and managing consumer spending in creating consistency in the marketplace (Kumar & Weiss, 2016). Texas retail industry has also facilitated research, information, and development where customers are informed and reminded of the existing and new products in the economy. It mobilizes the saving aspect where customers can invest in their finances as they outline their prices to the consumers before selling the products; therefore, customers can choose from various retail stores to purchase cheaper products.

It promotes economic development. Through retailing being a regular aspect of human beings, it has facilitated consumer spending in the international economy and gives a large segment of the population jobs. When the economy has full employment, then living standards will improve and, therefore, the state of the economy and the nation as a whole. The retail sector of Dallas ensures social responsibility by recognizing the needs of the consumers and social cohesion.

The retail industry in the contemporary economy is no longer recognized as an intermediary in the marketplace, but rather an ecosystem in which it develops and generates value that is delivered to the ends user and creates effective business relationships. Technology, however, plays a critical role in the Dallas retail sector. The sector has become more dynamic and has created industry shifts in the economy.

References

Kumar, A., & Weiss, M. (2016). Less involuntary part-time work suggests Texas' economic strength. Southwest Economy, (Q3), 15-20. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2840116

Smith, M. D., & Zentner, A. (2016). Internet effects on retail markets. In Handbook on the Economics of Retailing and Distribution. Edward Elgar Publishing. https://www.elgaronline.com/view/edcoll/9781783477371/9781783477371.00029.xml

Usui, K. (2016). Changes in small-sized retailers. Routledge Handbook of Japanese Business and Management. https://books.google.com/books?hl=en&lr=&id=WUp-CwAAQBAJ&oi=fnd&pg=PT470&dq=retail+industry+in+Dalla,+Texas&ots=K8aAanipGH&sig=oFL_YRiEinbHlpYq-hNsbDLUoNs