The terms retail and commerce are often used interchangeably, but there is a subtle difference between the two. Retail refers to the sale of goods or services to consumers for personal, family, or household use, while commerce refers to the exchange of goods or services between businesses.
In general, retail businesses are storefront operations that sell goods or services to customers who come into the store, while commerce is the broader category that includes all types of businesses, both brick-and-mortar and online, that sell goods or services to other businesses or consumers.
Here are some key points to keep in mind when considering the difference between retail and commerce:
-Retail businesses are focused on selling to individual consumers, while commerce businesses may sell to other businesses or consumers.
-Commerce includes all types of businesses, while retail is just one type of business.
-Retail businesses have a physical storefront, while commerce businesses may or may not have a physical location.
-Commerce businesses may sell goods or services online, while retail businesses typically sell goods or services in person.