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Marketing Overview Owing to its significance, the effective implications of globalization have also brought a revolutionary change in the retail sector all over the world in the 21st century emerging as a pillar to socio-economic developments; thus, motivating governmental regulations to control the rapid growth and outflow of the retail sector in the benefits of the consumers and the economy on the whole (Australian Government Productivity commission, n.d.).
Jurlique has been considered as an example for defining these parameters. It is one of the leading skincare brands of the Australia presently. The organization currently retails a varied range of more than 560 products that include skin care products, perfumes, hair care oils, facials as well as baby creams among others (Jurlique, 2013). Retail format The term, ‘retail format’ refers to the integrated supply chain system which is used by organisations to distribute the products to the ultimate customers. In today’s tumultuous business world, to achieve the desired success, retailers have to be abreast of the latest retail trends to get it imbibed in their retail format. Recognizing this global change, as per the report published by Australian Centre for Retail Studies (ACRC), innovation and compliance with customer needs can be regarded as the key attributes or success factors with respect to retail format where store locations as well as its decor play a vital role in persuading customers towards purchase (Australian Centre for Retail Studies, 2007). ...
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