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What is the difference between the terms'retail' and 'wholesale' in relation to a business?
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The main difference between retail and wholesale is that when you sell products or services at retail, you are selling directly to customers. When you sell at wholesale, you are buying goods from a supplier and then reselling them to your customers at a higher price. This can be done either through a physical store or online. Wholesaling typically involves larger quantities of merchandise than retailing does and often involves more complex logistics.