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The Future of the Retail Stores Assignment

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Added on  2020-04-07

The Future of the Retail Stores Assignment

   Added on 2020-04-07

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THE FUTURE OF THE RETAIL STOREToday retail stores are no more, just store style of the consumers pulls them to transform the waythey were. The retailer stores have a long journey which they had travelled from. The future of the retail stores greatly depends on the delivering consumer satisfaction and their strategic planning. There are many factors on which the future of such stores depends such as delivery speed, easy buy, mobility, but what the future is. The first retailer store was opened in 1900, at that time stores were very simple as compared to the current situation.More and more new futuristic feature has been added such as card payments and down payments. Earlier it was just to sell products, but now day’s it is also about promoting and increasing the productivity. Clear prospective is that stores will go parallel with the consumer supportive technology (Anegon, 2014). Today there is 23%, massive increase in retails because of changes in the trends of the stores. ‘Nike’ the foremost brand has completely changed its stores form the day it was founded. Earlier it just sells the sportswear but today they are also selling their sports instruments in the stores. Nike had been experimenting with their stores from a long time. Also, the outlook has also changed from time, there costumer services are much better, and payment system is perk which prefers digital payments methods. In 2016 their sales had been increased by 16 % as they have adopted different technologies for sales in their stores which were very satisfying for consumers (Anegon, 2014). For example, Nike in U.S. introduced a new concept store in which there was created a brand museum; this was for the first time any company had experimented with in their retail stores. Hence, from the simple sport selling stores to the complete store with technical selling (Paul, Sankaranarayanan and Mekoth, 2016).
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