The Future of the Retail Stores Assignment

Added on - 07 Apr 2020

  • 3


  • 712


  • 101


  • 0


Trusted by +2 million users,
1000+ happy students everyday
Showing pages 1 to 1 of 3 pages
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 ofthe retail stores greatly depends on thedelivering consumer satisfaction and their strategicplanning. There are many factors on which the future of such stores depends such as deliveryspeed, easy buy, mobility, but what the future is. The first retailer store was opened in 1900, atthat 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 downpayments. Earlier it was just to sell products, but now day’s it is also about promoting andincreasing the productivity. Clear prospective is that stores will go parallel with the consumersupportive technology (Anegon, 2014). Today there is 23%, massive increase in retails becauseof changes in the trends of the stores. ‘Nike’ the foremost brand has completely changed itsstores form the day it was founded. Earlier it just sells the sportswear but today they are alsoselling their sports instruments in the stores.Nike had been experimenting with their stores from a long time. Also, the outlook has alsochanged from time, there costumer services are much better, and payment system is perk whichprefers digital payments methods. In 2016 their sales had been increased by 16 % as they haveadopted 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 wascreated a brand museum; this was for the first time any company had experimented with in theirretail stores. Hence, from the simple sport selling stores to the complete store with technicalselling (Paul, Sankaranarayanan and Mekoth, 2016).
You’re reading a preview
Preview Documents

To View Complete Document

Click the button to download
Subscribe to our plans

Download This Document