What is the meaning of retail trading? Describe any two features each of rural marketing and urban marketing centres.

Trade is the purchasing and selling of commodities and services that are produced elsewhere mainly with the motive of earning profits. In retail trading, the goods and services are sold directly to the consumers, without the interference of any intermediaries. Most of the retail trading is done in fixed establishments and stores. But retail trading is not limited to store retail trading. Street vending, handcarts, trucks, door-to-door, mail-order, telephone, automatic vending machines and internet are non-store retail trading.

Trading centres are the towns and cities where all the purchasing, sales, collection and distribution of commodities and services take place. Trading centres may be divided into rural and urban marketing centres.

Rural marketing centres will satisfy the requirements of neighbouring settlements. These are quasi-urban centres. Its main features are:

• The area will not have well-developed and strong personal and professional services. They are trading centres of the most elementary category. These form local collecting and distributing centres.

• Most of the centres sell commodities both in mandis (wholesale markets) and retailing areas. They sell the goods and services that are frequently demanded by rural people.

Urban marketing centres have more widely specialised urban services. These are quasi-urban centres. Its main features are:

• They provide both regular goods and services and specialised ones as per the requirement of the people. Thus urban centres sell manufactured goods.

• It will result in the development of specialised markets including labour markets, housing and semi or finished products. It also includes the services of educational institutions and professionals.