Merchant

Meaning:

A merchant is defined as a person or business that sells goods or services to customers. Merchants can include shop owners, online sellers, wholesalers, traders, small

business owners, and service providers. They serve as the primary link between manufacturers and consumers.

Types of Merchants:

Retail Merchants: These merchants sell directly to customers from physical stores.

Wholesale Merchants: They sell goods in bulk to other businesses rather than individual  customers.

Online Merchants: These merchants operate through websites or mobile apps to sell products.

Service Merchants: They provide various services, such as salons, hotels, and repair services.

Importance in Finance:  

Merchants play a crucial role in the economic cycle by distributing goods and generating revenue.

They utilize banking services, digital payments, loans, and point-of-sale (POS) machines to  ensure smooth operations.

Role in Goods and Business:

Merchants facilitate the movement of products to customers, maintain supply chains, manage pricing strategies, and ensure the availability of essential items. The rise of digital payments  has made merchant operations faster and more transparent.