Many big chains like Walmart and Best Buy don't own a significant portion of inventory on shelves or in warehouses. The manufacturers own the inventory up until the products are paid for by the customer.
This is simply false. Chains like Walmart and Best Buy own their inventory (i.e., they hold legal title).
They simply might not have forked over the cash yet, which is very different--for a variety of reasons, the actual transfer of cash can take place weeks or even months later. (This is how invoicing works with most companies. If you are an independent contract, you know exactly how this works.)
Very few products in retail are sold on a consignment basis (meaning, when the product sells). Generally, only new products or slow-selling big-ticket items (like refrigerators) get sold on consignment (or similar) arrangements.
Legal title isn’t the end-all depending on how the entire contract is structured. e.g. A home owner may hold legal title to a home, but the mortgage is a side contract that may show that the bank may hold more than half of the entire home value.
Legal title is just one of many arbitrary constructs that get applied, typically in a way that’s most advantageous to the more powerful party in the relationship.
Forking or not forking over cash can be a key component of who really holds the business risk (rather than just legal title).
Many big chains like Walmart and Best Buy don't own a significant portion of inventory on shelves or in warehouses. The manufacturers own the inventory up until the products are paid for by the customer.