Describe some important features of the retail sector and provide some Essay

discern some important features of the retail sector and provide some real world examples - Essay simulationConversely, small stores still survive in the retail business as a result of retaining customer base regardless of stiff competition from large or super stores (Scarborough, 2012). In a while of events, most departmental stores cosmopolitan seems to wane and this has forced such departmental stores to reposition themselves in the trade (Lincoln & Lars, 2007). For instance, there be departmental stores that atomic number 18 now shifting to apparel stores from supplying consumers with general merchandise. In order to attract customers, retail stores are now focusing on go customers give the sack. Offering discount is a key feature in the retail sector today, such discounts involves lowering prices of goods or whirl money back guarantee to entice more customers. Examples of retail store engaging in offering customers discount include, the Wal-Mart (Lincoln, 2009).In the same industry, there are retailers who focus on one type of mathematical product category. This is a strategy meant to expand their grip in the market and gain competitive edge. Such retailers are also termed as, Category Killers and examples include Toy stores or Home Depot and are considered to have a larger market share with regard to product category. For instance, the Toys R U currently enjoy a market share of 20%. As a result of improvement in information technology, retailers are now capitalizing on this avenue to attract consumers. Direct marketing embraces strategies like direct mail and compile marketing, and examples of stores relying on direct marketing include cosmetic stores (Dennis, 2009).Further, the retail industry is mainly influenced by demographic changes and as a result, the preference by consumers is shifting towards a demand for certain goods and services. This trend forces retailers worldwide to remain vigilant and adapt to the frequent changes in the reta il market. With regard to mergers or acquisition, retail stores that rein