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E475 LAURENIU ANDRIESCU BUSINESS EXTENDED BUSINESS PROJECT [Salvat automat]

business management

pescarus2006
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E475 LAURENIU ANDRIESCU BUSINESS EXTENDED BUSINESS PROJECT [Salvat automat]

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  1. Today’s Retail Sector Key Issues Brand loyalty can be an issues that is a scheme that helps the companies to attract more consumers in a business. In retail industry there are numerous competitors that are offering same products with lower cost or some other facilities to a service. Future Direction In case of retail industry, there is the top most significance of attaining the service approach through online shopping. Using of different platforms in the online approaches can be particular to make effective connection between users and company. Introduction The presentation will focus on global retail industry, its background, and competitive analysis. Porter Five Forces Threat of Entry: Consequently, barriers can be occurred through the response of existing players in terms of making a way for new players or entrants. Competitive Rivalry Major players operating in retail industry are Tesco, Sainsbury, Asda, Morrison, Iceland, and others. Background Departmental stores, shopping malls and online shopping are the various areas where retail industry has made vast change by increasing the service facility and customer needs Bargaining Power of buyers: The power of buyers’ in case of retail industry has the high value due to availability of products from the existing players in the market. Bargaining Power of Suppliers: Unique products or services have the power to get high bargaining power of suppliers in case of retail industries. Threat of Substitutes: Considering the services of retail industry, there is various alternatives by which the customers can have their choices as per necessity. Conclusion: Technological interventions are significantly increasing the service prominence towards the targeted audiences. However, the future growth of retail sector is possible by some effective technological innovations and development of its services towards meeting the needs of customers. Aim: The particular aim of retail industry is to create and develop the services and products as per customer’s choice. References Attaran, M. and Gunasekaran, A., 2019. Consumer Goods and Retail Industry. In Applications of Blockchain Technology in Business (pp. 59-61). Springer, Cham. Pantano, E., Priporas, C.V., Sorace, S. and Iazzolino, G., 2017. Does innovation-orientation lead to retail industry growth? Empirical evidence from patent

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