The rate of change in retailing around the world appears to be directly related to:
A) the internationalization of U.S. franchises such as McDonald's.
B) the internationalization of Walmart.
C) the use of discount stores as a retail format.
D) the stage and speed of economic development in the countries concerned.
E) the development of warehouse clubs.

Question

Quizplus · Accepted Answer

The rate of change in retailing around the world is directly related to the stage and speed of economic development in the countries concerned. As economies grow and become more developed, consumer preferences, shopping habits, and buying power change, leading to changes in retailing. For instance, as incomes rise, consumers tend to patronize specialty stores, department stores, and shopping malls, which offer a wider range of products and services than discount stores. As such, retailers seeking to enter new markets must tailor their strategies according to the economic conditions, preferences, and behaviors of their target customers.

The Rate of Change in Retailing Around the World Appears