Retail Despite The

Retail Despite The

Retail Despite the important part played by large organizations, retailing is not highly concentrated. The three largest financiers accounted for about 6 per cent of total sales. At the other end of the scale about a quarter of a million businesses were owned by working proprietors with annual turnovers of around 12,000. Retailing is a way of life as well as an occupation, and more than half a million of those engaged in it are working proprietors or unpaid family helpers. Small retailers are attempting to gain economies of scale by forming buying groups and joining 'voluntary chains' organized by wholesalers with whom they contract to buy specified goods for stated periods and therefore pay lower prices than if they continued to buy independently. Although many small retailers are likely to be eliminated as multiples continue to expand, they have proved to be resilient in the face of change.

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