Retailing consists of the set of business activities involved in selling products and services to consumers for their personal, family, or household use. Traditionally, a retailer serves as the last distribution channel that links manufacturers and consumers; however, in order to have control and exclusivity with their merchandise, most large retailers, such as Wal-Mart and the Gap, are vertically integrated and perform more than one set of activities in the distribution channel, such as both wholesaling and retailing activities or both manufacturing and retailing activities. (more…)