To be successful, merchants need to possess a variety of skills:
1. Sales and Marketing: Understanding how to market products and engage customers is crucial. 2. Inventory Management: Effective management of stock to meet customer demand while minimizing costs. 3. Customer Service: Providing excellent service to enhance customer retention and satisfaction. 4. Negotiation: Skillful negotiation with suppliers and customers can improve profit margins. 5. Financial Management: Keeping track of financial transactions, managing budgets, and ensuring profitability.