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Theories of retailing

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Different theories of retail in retail management

Published in: Retail
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Theories of retailing

  1. 1. KRITIKA KUMAR Theories of Retailing
  2. 2. Theories of Retailing Cyclical Theories Wheel of Retailing Accordian Theory Evolutionary Theories Dialectic Process Natural Selection
  3. 3. Cyclical Theories Wheel of Retailing Stage 1:Low Price, Low Service, limited product offerings. Stage 2: Improve merchandise offering, better service, higher prices Stage 3: Conservatism, declining ROI, increased competition
  4. 4. Wheel of Retailing
  5. 5. Cyclical Theories Accordion Theory Evolution of retail institutions from general, broad- based outlets with wide assortments, to narrow- based institutions carrying specialised assortments, and back to general, broad-based assortments. Synonymous with general-specific-general theory.
  6. 6. Evolutionary Theories Dialectic Process Retailers mutually adapt in the face of competition from “opposites”. When challenged by a competitor with a differential advantage, the established retailer will adopt strategies and tactics in the direction of that advantage (making the innovator less attractive)
  7. 7. Dialectic Process
  8. 8. Evolutionary Theories Natural Selection Retailing institutions that can most effectively adapt to environmental changes are the ones most likely to prosper or survive. Environmental need for a certain kind of retailing institution it will evolve→ Need ceases to exist the institution will tend to→ disappear Institutions that most effectively adapt to environmental changes are most likely to survive
  9. 9. Retail Life Cycle Retail organizations pass through identifiable stages of innovation, development, maturity and decline. Stages of Retail Life Cycle: Innovation Accelerated Growth Maturity Decline
  10. 10. Innovation Differentiated services, product and format. Few competitors Rapid growth Moderate profit Accelerated Growth Increase in sales Emergence of competitors Organization try to attain leadership Higher investment Cost pressure
  11. 11. Maturity Increased competition Decrease in growth rate Repositioning: strategy, format & merchandise mix Decline Loses Competitive edge Negative rate of growth Profitability decline Cost run higher
  12. 12. Retail Life Cycle

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