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Wholesale is a business in which goods are sold in large quantities to the retailers, industries and other businesses. When the goods are sold to the final consumer in small lots, then this type of business is termed as retail.
Retail is usually classified by type of products as follows: 1  Food products â typically require cold storage facilities. 2  Hard goods or durable goods (hardline retailers) â automobiles, appliances, electronics, furniture, sporting goods, lumber, etc., and parts for them.t was first recorded as a noun with the meaning of a sale in small quantities in 1433 (from the Middle French retail, piece cut off, shred, scrap, paring). Like in French, the word retail in both Dutch and German also refers to the sale of small quantities of items.