The impact of economics and sociological changes on the evolution of retail formats
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The impact of economics and sociological changes on the evolution of retail formats retailer acts as a link between the customer and the marketer, who is responsible for selling the ultimate products and services to the customers.
Explanation:
Retailing -
RETAILING refers to the selling of products for customers' personal consumption. Retailers affect local communities and discover the social and economic impacts of retailing
Economic Impact of Retailing-
The retail industry is made up of X and companies that sell finished goods to end-user consumers.
Retail is big, very big. As such, it can have an enormous impact on local and national economies. During the Christmas season, the retail industry does almost 20 percent of their annual business. They also hire extra help, which creates temporary jobs. Retail sales figures are often used as a measuring stick of the overall economy and consumer confidence
Social Impact of Retailing
Going back to our store-opening example. Let's say that a month after the store opens, someone sees a store employee dumping trash into the creek behind the store. A video of the incident goes viral and the story makes the local news.
Some consumers avoid spending money with organize at ions that behave irresponsibly or unethically, like dumping trash in a creek. Many consumers feel better about supporting brands that use sustainable business practices like selling goods made of recycled materials. Corporate social responsibility (CSR) is a broad concept that includes delivering economic, environmental, and social benefits to stakeholders through sustainable business practices.