Many new types of retailing forms began as low-margin,low-price,low-status operations according to the concept called ________.
A)the wheel of retailing
B)retailing cycle
C)cyclical retailing
D)retail evolutionary cycle
E)retail life-cycle

Question

Quizplus · Accepted Answer

The concept of the wheel of retailing suggests that new forms of retailing begin as low-margin, low-price, low-status operations and over time, as they become successful, they add services and increase prices, eventually becoming full-service retailers themselves. This process creates a cycle where new low-cost retailers are constantly entering the market, starting the cycle over again.

Many New Types of Retailing Forms Began as Low-Margin,low-Price,low-Status Operations