Retail Management

SUMMARY: To survive in the fast evolving retailing industry, retailers should have a fair idea of various retail store formats and their advantages and disadvantages. Retail institutions should continuously adjust their store formats to match the changing market environment. There are many theories, which try to explain the evolution of various retailing formats. Some of these theories are: wheel of retailing, dialectic process, retail accordion theory and natural selection theory. A retailer can use a store based or non-store retail format to serve its target market.