Retail transactions refer to the process where consumers purchase goods or services from a retailer. This typically involves the exchange of money for products, which can occur in physical stores or online platforms. The transaction is completed when the customer pays for the item, either through cash, credit/debit cards, or digital payment methods. During a retail transaction, various elements come into play, including the point of sale system, which records the sale, and the inventory management system, which tracks stock levels. Retail transactions are essential for businesses, as they generate revenue and help maintain customer relationships.