Understanding Marketplaces

• People go to markets for everyday needs buying things like vegetables, soap, toothpaste, masala, bread, rice, dal, clothes, notebooks, and biscuits.

Types of Markets

• Shops and hawker stalls exist.
• Weekly markets occur.
• Large shopping complexes can be found.
• Malls are also an option for consumers.

Weekly Markets

• Held on a specific day of the week without permanent shops.
• Traders set up shops for the day and close in the evening, moving to a different place the next day.
• There are thousands of these markets in India where people buy everyday items.
• Cheaper rates are available because there is less expenditure (no rent, electricity, or fees to the government).
• Shop owners store goods at home.
• Family members often help, so no need to hire workers.
• Many shops selling the same goods leads to competition.
• Bargaining is possible, which can bring the price down.
• One place to find vegetables, groceries, cloth items, and utensils.
• Wide selection of goods.

Shops in the Neighbourhood

• Weekly markets offer a variety of goods.
• Shops also sell goods and services in neighbourhoods.
• Milk is bought from the dairy, and groceries from departmental stores.
• Stationery, eatables, and medicines from other shops are also available.
• These permanent shops and roadside stalls like vegetable hawkers, fruit vendors, and mechanics are convenient as they are near homes and are open every day.
• Buyers and sellers often know each other in neighbourhood shops.
• Goods can sometimes be purchased on credit, to be paid for later.

Shopping Complexes and Malls

• Urban areas contain shopping complexes with many shops.
• Malls in cities are large multi-storeyed, air-conditioned buildings with shops on different floors.
• Branded and non-branded goods are sold there.
• Branded goods are more expensive due to advertising and claims of better quality.
• Companies sell through large urban markets and showrooms.

Chain of Markets

• Goods are produced in factories, on farms, and in homes.
• Traders exist between producers and final consumers.
• Wholesale traders buy goods in large quantities.
• Goods are sold to other traders in markets through buying and selling.
• Goods reach faraway places through traders; the retailer finally sells to the consumer.
• Retailers can be found in weekly markets, as hawkers in the neighbourhood, or in shops in shopping complexes.
• Cities have areas for wholesale markets.
• Goods first reach wholesale markets and are then supplied to other traders.

Wholesale Example

• Aftab is a wholesale trader who buys in bulk.
• Aftab's day starts at 2:00 AM when vegetables arrive.
• Vegetables come from near and far farms.
• He buys 5 quintals of cauliflower and 10 quintals of onions, storing them in his shop.
• Hawkers and shopkeepers arrive around 6:00 AM to buy from him.
• Shopkeepers organize their purchases so they can open around 10:00 AM.

Markets Everywhere

• People can buy and sell a variety of goods and services in different marketplaces.
• Markets are in specific localities and work with specific manners and times.
• It is unnecessary to go to a physical market to purchase: orders can be placed through phone or Internet for home delivery.
• Sales representatives can often be found waiting for doctors in clinics and nursing homes and are also engaged in selling goods.
• Buying and selling occurs in different ways, not just through shops.
• Some markets aren't easily recognizable
• Farmers use fertilizers bought from special shops in the city, who get them from factories.
• Car factories purchase parts from other factories.

Markets and Equality

• There are shop owners in weekly markets and shopping complexes.
• Weekly market traders earn less compared to regular shop owners in shopping complexes.
• Many cannot afford the cheapest of goods.
• Buyers and sellers depend, among other things, on the amount of money they have.
• There is a chain of markets that goods travel through to reach consumers.
• The production and selling of goods encourages production and creates opportunities to earn.

Explore the different types of markets, from weekly setups to large shopping complexes and malls. Discover the unique characteristics of weekly markets, including their affordability and variety of goods. Learn about the traders and consumers who participate in these essential community spaces.