According to the _ _ concept,new retailing forms often begin as low- margin,low- price,low- status operations to challenge established retailers,then become successful,and eventually take the place of the established retailers they had challenged.

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The concept of "wheel-of-retailing" explains how new forms of retailing often begin as low-margin, low-price, and low-status operations to challenge established retailers. As they become successful, they gradually increase their prices, add services, and improve their facilities, eventually taking the place of the established retailers they had challenged. This process creates a cycle or "wheel" of retailing, whereby new forms of retailing emerge, mature, and decline as they are replaced by newer and more innovative forms.

According to the _ _ Concept,new Retailing Forms Often Begin