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The Future of Retail Stores PDF

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Added on  2020-05-11

The Future of Retail Stores PDF

   Added on 2020-05-11

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Running head: THE FUTURE OF RETAIL STORESThe future of retail storesName of the studentName of the universityAuthor note
The Future of Retail Stores PDF_1
1THE FUTURE OF RETAIL STORESThe future of retail storesIntroduction In the present business scenario, retail stores will have to initiate various contemporarymeans in order to stay ahead in the competition. The key competitions of the contemporary retailstores are will the online marketplace. This due to the reason that, the taste and preferencepattern of the customers are rapidly inclining towards the online shopping. Thus, it is importantfor the retail stores to enhance their online presence. Coles is one of the leading supermarkets inAustralia having product portfolio for consumer goods. In the recent times, they have alsoopened their own online stores in order to enhance the customer convenience and to stay aheadin the competition. However there are various other means to initiate in order to secure the futureof the retail stores. Importance of Omni channel marketing According to Piotrowicz and Cuthbertson (2014), Omni channel retailing is one of themost effective means of surviving in the present competitive retail scenario. This is due to thereason that, currently a major portion of the customers still prefer the offline retail markets overthe online market. According to the authors, initiation of only the online market will thereforedeprive the retail store in catering to this customer segments. One the other hand, onlineshopping is becoming a trend recently and it is covering more number of audiences and thus it isalso important for the retail stores to have their online presence also. Thus, according to theauthors, the future of the retail stores such as Coles is depending on how effectively they aremaintaining their Omni channel retailing to cater to both customer segments.
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