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Retail Business Environment                              Pavitar Parkash Singh, Lovely Professional University




                   Notes                Unit 2: Structural Change in Retail Environment


                                    CONTENTS
                                    Objectives
                                    Introduction
                                    2.1  Retailing Environment

                                    2.2  Socio Demographic Change
                                    2.3  Technology Change
                                    2.4  Economic Change
                                    2.5  Socio-Economic Changes
                                    2.6  Impact of Changes in Retailing
                                    2.7  Key Segments in Retailing
                                    2.8  Summary

                                    2.9  Keywords
                                    2.10 Review Questions
                                    2.11 Further Readings

                                  Objectives

                                  After studying this unit, you will be able to:
                                       Explain retail environment

                                       Discuss social demographic change
                                       Explain technology and economic change
                                       Describe the concept of Socio-economic change

                                       Explain the Impact of changes in retail industry
                                  Introduction


                                  This unit focuses on the structural changes in our society and their on retailing. These changes
                                  continue to occur over a long period of time and fundamentally change the ways in which we
                                  use retailers and the ways in which retailers supply our needs and wants.
                                  Changes in our natural and social environment are constantly affecting what consumers wants
                                  and how retailers can provide them with their requirements. Customers are changing due to
                                  change in income, technology and lifestyles, retail formats change and supermarkets move into
                                  fashion. Retailers are interested in these changes because they affect how much people want to
                                  buy and the cost of providing customers with the products and services that they want.

                                  2.1 Retailing Environment

                                  Simultaneous assessment of the external environment and company profile enables a firm to
                                  identify a range of possibly attractive interactive opportunities. These opportunities are possible
                                  avenues for investment. However, the full list must be screened through the criterion of the




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