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Retail industry in last ten years
Finance & Accounting
Pages 8 (2008 words)
Retail industry in last ten Years The retail industry has evolved through major changes in the last decade. The industry has proved to be a major source of employment in countries like US and the nature of the overall operation of the industry has undergone rapid changes…
The paper also analyses the role played by the mergers and acquisitions which had led to successful operation of the few big organization in the retail industry. Changes in the retail market: The general overview regarding the retail market has changed considerably over the last ten years. Originally the retail market signified a clothing market which primarily involved a made to order market, but in recent time, the dimension changed and it emerged as a ready to wear market. The standard practice of the retail market involved customers flipping through the product catalogue, selecting the color, size, and the texture of the clothing which they desired to purchase and then the customers had to wait for the sewing process of the clothes to be complete before they received the delivery of the final product. However in the era of 21stcentury, the multinational organizations have stepped in the market and the outlook of the retail market changed with large sized stores where the customers were offered various products under a single roof. The retail industry in the present times comprises of products other than clothing and is primarily segregated into two segments which are hard and soft. Under the hard segment, the goods include electronics, appliances, and furniture whereas the soft segment deals with clothing, apparels and products of fabric. ...
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