The term "retail price" refers to the selling price of a product or service offered by a retailer. This is the price at which the item is advertised and sold in stores, and it typically includes profit margins for the retailer. The retail price can vary depending on factors such as supply and demand, competition, and location. It's important to note that the retail price may not be the same as the manufacturer's suggested retail price (MSRP), which is a recommended selling price set by the manufacturer of a product.