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Hi, I need help with essay on Retail Theories and Strategies. Paper must be at least 2000 words. Please, no plagiarized work!Retailing is an activity of enormous economic significance to most develope
Hi, I need help with essay on Retail Theories and Strategies. Paper must be at least 2000 words. Please, no plagiarized work!
Retailing is an activity of enormous economic significance to most developed nations. In Britain, 2.5 million people are employed in retailing, comprising 10.5 percent of all employees (National Statistics, 2001a). Retailers provide the goods and services needed--from food, auto parts, apparel, home furnishings, appliances and electronics to advice, home improvement and skilled labor. Retailing is one of the fastest-growing segments of the economy. As one of the nation's largest employers, the retail industry provides excellent business opportunities. At least one-third of the 100,000 or so new enterprises launched each year are retail operations. The entrepreneurs behind these ventures risk their capital, invest their time and make a living by offering consumers something they need or want. Most retailing involves buying merchandise or a service from a manufacturer, wholesaler, agent, importer or other retailer and selling it to consumers for their personal use. The price charged for the goods or services covers the retailer's expenses and includes a profit. Each year, this vital sector of the UK economy accounts for about 08 percent of our gross national product--more than $1 billion.. Most are store retailers, though there are other types of enterprises--such as e-commerce, mail order, automatic-merchandising (vending) machines, direct retailing (door-to-door and home party sales), and service providers.