The development of retail formats at international level has been mostly influenced by a continually hanging social and economic landscape. The main reason for retail stores growth in present scenario is customer’s huge demands about products and services. Retail development can be analysed from the theoretical perspective. There is no single theory applicable or acceptable in the area of retail management. The application of each theory differs from market to market, depending on the level of maturity and the socio-economic conditions in that market. Most tasks involved with operating a retail business is the same. However, small or autonomous retail stores may merge many sectors together under one division, while big stores create various divisions for each particular function along with many layers of management.
The theoretical studies in retail management field describe the process of retail development turn around the importance of competitive pressure, the investments in organizational capabilities and the creation of a sustainable competitive advantage. This requires the execution of strategic panning by retail organizations. Expansion in retail is outcome of understanding market signals and responding to the opportunities that occur in a vibrant manner.
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