What is the difference between refurbished and new Mac?.Should I buy used or refurbished MacBook?.Self service is the main feature of buying in modern trade while, in traditional trade, the onus of display and selling was on salesman and shopkeeper.On the other hand, traditional trade requires the presence of the customer in the shop and the display of all items on sale. Modern trade can be conducted at any time anywhere in the world even when the consumer is flying over skies or inside a moving train.When the entire market is in front of a customer in the shape of a 2X2” mobile screen, it makes all the difference between the way people bought in traditional markets and the way they do today in the modern world.
On the other hand, there is virtually no owner to be seen by customers in modern trade such as multi-brand stores in big malls and electronic stores.
All markets in cities having single shops also come within the purview of traditional trade. Traditional trade also includes roadside vendors and food stalls on highways, cities and villages in all parts of the world. The word traditional trade is collective representation of these small, simple stores. This populace still buys items in retail stores, which are far smaller and much less sophisticated than the glitter and technology of modern retailing. This segment still buys and sells through traditional means of trading, which has been stagnant for quite a few decades now. More than half of the world’s population of 7 billion lives on a paltry $2 per day (or less) and comes from developing (read poor) countries. Let us take a closer look at the situation. Not getting to see the face of the shop owner, choosing product on one’s own and getting it billed electronically is another important difference between traditional and modern trades. If we include barter in traditional forms of trade and compare it with modern forms of trade such as buying and selling products on the internet, we find a host of differences between the two.
Right from the ancient times when barter was the only form of trade, as there was no money to make profit, trade has gone through a number of changes, both monetarily and technologically.