Definition (1):
Volume business is the business that has few sources of advantage, but the size is large typically the result of scale economies. Advantages established in one such business may be transferable to another as Honda has done with its scale and expertise with small gasoline engines.
Definition (2):
A business that trades in huge quantities of products or a product or possesses a huge number of sales.
Use of the term in Sentences:
- Discounters depend on strategies that attract volume business.
- Mr. Anderson is the owner of a volume business of online broking and earns huge profits every year.
- Jim’s business is undoubtedly a volume business because it trades in huge quantities of products and enjoys a huge number of sales.