Final answer:
Retailing is the final activities and steps needed to place merchandise into the hands of the consumer. It involves the transfer of goods and/or services between channel members.
Step-by-step explanation:
Retailing is defined as the final activities and steps needed to place merchandise made elsewhere into the hands of the consumer or to provide services to the consumer. It involves the transfer of goods and/or services between channel members. An example of retailing would be a clothing store selling clothes to customers.