From the course: Selling into Industries: Retail and Consumer Products
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The retail industry and current trends
From the course: Selling into Industries: Retail and Consumer Products
The retail industry and current trends
- There's one thing for certain in business. There will always be change. This is a especially true for the retail marketplace. And over the past five to six decades, history illustrates that very clearly. There have been a number of dramatic transformations that altered the landscape and shook up the status quo of how products were sold and brought to market. Years ago we read about department stores that were standalone outlets that consumers drove to. Then there was the advent of malls that seemed to be located at every major highway intersection. Then came the big superstores and category killers that impacted the smaller retailers located nearby. In the current era, it's now online shopping that has everyone scrambling yet again. Knowing and staying well-informed of what's happening in the retail industry is essential. And being aware of new trends is what can give you a competitive advantage. Being complacent is not going to work, or assuming that research you have from last…
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