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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 means selling of goods in small lots. When the goods are sold to the final customer, for consumption and not for the purpose of resale, in small quantities, then this business type is known as Retail. Retailers are the middleman between wholesalers and customers.