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Supermarket Industry - Essay Example
The supermarket industry has become one of the most lucrative industries in the world and their expansion has been rapid. Every year, the sales turnover in this industry are increasing rapid and they have been employing a lot of people. In most of the cases, the retail market in the world are considered to be mature and hence most of the large retailers are mostly like to remain dominant players while trying to increase their market share through mergers and acquisitions and turning themselves into supermarkets (Engleson, M…
With the increased competition, many people in the supermarket industry have realized the importance of offering a wide range of products from groceries, electronic items, and clothing among other items which will ensure that their shops have a competitive edge over the rest of their rival supermarkets.
The supermarket industry has therefore played a significant role in the growth of the economy in terms of creating employment, provision of vital goods to customers among other roles and most of the supermarkets have undeniably adapted it. Nevertheless, most of the international supermarkets such as wal-mart have been able to survive and they have been able to reinvent themselves over a period of time so as they can be able to attract and maintain a wide base of loyal customer and increasing their sales volume (Robert, S. 2003). Most of them have come up with new concepts and innovation and hence they have been able to succeed in their endeavors.
In this world where competition is thrive, it seems as everybody is following the same line where most of the supermarkets have become a one stop shopping p ...