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Write a 11 pages paper on challenges to the bulgarian retail industry. There are many opportunities for entering in the retail sector in Bulgaria such as, development of tourism which helps in attract
Write a 11 pages paper on challenges to the bulgarian retail industry. There are many opportunities for entering in the retail sector in Bulgaria such as, development of tourism which helps in attracting foreign companies and so on, entitled to investment incentive. There is also the risk of entry such as licensing options, selling strategies. Retail store should concentrate on certain steps such as the locations of trade. In the business they may have to encounter international competition. Entrepreneurial retailers should take advantage of the environment by focusing on niches. Even as retailers select the best format for a new market they must also tailor it to local tastes and expectations. The fashion of investments in Bulgarian Retailing can be expressed with only one world “maxi” fashion of the malls’ building. The relative economic weakness of Bulgaria is expected to be offset by the benefits of membership in EU. The economic evidence indicates that Bulgaria has made considerable progress in satisfying Copenhagen criteria. The retail performance gap can be significantly reduced by innovations in retail formats in Bulgaria.
Bulgaria offers a sizeable market for the international retailers, suppliers and the sub suppliers to the retail sector. The entry into the European Union has been a very dynamic development in Bulgaria for retailing. As the pace of acquiring new markets increases, success in the retail race only goes to companies that make the right moves at the right time - timing is the name of the retail game. Bulgaria has been a destination for interesting expansion. Bulgaria is known for their strong political stability and had a strong growth. The retailers often appreciate the political stability. In Bulgaria, the retail sector consists of arrangement of different types of stores. It starts from small basement shops to a large hyper market. It provides an attractive place for the customers to visit and to develop an enjoyable shopping experience.
