Retailing showcasing
The changing environment from all perspectives, for example, political, financial, social, innovative, authoritative and ecological Retailing marketing
The changing environment from all points of view such as political, economic, social, technological, legislative and environmental has affected most of the sectors in the current societies. Retail sector is one of the most dynamic sectors only because the external factors affect retailing a lot.
Other than the external factors, other changes have occurred in terms of customer demands, new technologies, intense competition etc. All these changes have led to creation of new opportunities even as they are shaking up the existing businesses. The internet and web technologies have itself created a myriad of opportunities for web based business model of retailing. Thus, it is not a surprise that a new and novel retail chain pops up, thrives for a small period of time, and then is taken over by a larger retail chain. This is the basic concept behind Wheel of retailing.
retailing showcasing
The wheel of retailing concept was introduced by McNair from Harvard University and it is considered to be more an observation than a theory. No matter from which point of view we look at this concept, the idea itself intends to describe how the retail institutions transform during their evolutionary life cycles.
