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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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