Unlocking Growth: SMEs Thrive in the Retail Revolution
### The Rise of SMEs in the Philippines Small and medium enterprises (SMEs) are the backbone of the retail landscape, comprising an impressive 90% of the merchant network in sectors…
The retail industry refers to the sector of the economy that involves the sale of goods and services directly to consumers. It encompasses a wide range of businesses, including brick-and-mortar stores, online retailers, and mobile commerce platforms. Retailers purchase products from wholesalers or manufacturers and then market and sell them to end-users. The industry includes various formats, such as department stores, supermarkets, specialty shops, convenience stores, and e-commerce websites. The retail industry is characterized by its focus on delivering consumer goods, enhancing customer experiences, and adapting to market trends. It plays a critical role in the distribution chain, influencing both production and consumption patterns in the economy.
### The Rise of SMEs in the Philippines Small and medium enterprises (SMEs) are the backbone of the retail landscape, comprising an impressive 90% of the merchant network in sectors…