What is Over-the-Counter (OTC) in Retail? Explained

Over-the-Counter (OTC) involves the direct sale of goods or financial instruments to customers without the need for a prescription or intermediaries. OTC transactions occur directly between the buyer and the seller, often featuring products like medications, supplements, or financial instruments such as stocks and bonds. Unlike prescription drugs requiring a doctor's authorization, OTC products are directly available for purchase by consumers, typically at pharmacies or financial institutions. This term underscores the accessibility and convenience of products that don't necessitate formal authorization or a specialized transaction process.