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Essay text:
The major environmental factors affecting retailing are, a) Retail changes in
the consumer character, which is like population changes. b) Retail changes in
technology, e.g. use of motorcars. c) Retail changes in competition, e.g. changes in the
levels of competitive strength within the areas of influence. 2) The wheel of retailing
suggests that an efficient innovatory form of retailing enters the market and attracts the
public by its appeal. Growth and maturation occur during which market shares are
increased, but trading-up occurs and finally the firms become high cost, high price
retailers once again vulnerable to the next innovator...
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