What are some changes that have impacted the retail environment in the last 25 years? What strategies would a small retailer implement to survive the arrival of a large retailer in its community? How can retailers differentiate themselves? Provide examples.
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While there was less number of super shops or chain malls in the past days, the retail stores were doing their business at a very large scale. There were retail stores almost every important corners of a street and almost every daily commodity was available in those stores. Hence, the retail business environment was also at a very beneficial stage at that time. But, with the passage of time, big chain malls and supers hops started to arrive and they began to take control of the local and international market. However, the retail business also went through some changes to cope with the challenging and changing environment. Those changes are like these :
i) the development of large international retail chains,
ii) retail concentration,
iii) locational changes,
iv) technological innovation,
v) new labor ...
500+ words answer to the posted question.