According to the wheel of retailing,retail institutions _____.

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The wheel of retailing theory suggests that retail institutions begin as low-end strategy firms and gradually upgrade their strategy to medium or high end. However, this upgrading process may make them vulnerable as they face increased competition and other challenges. The theory does not suggest that retail institutions always increase sales and profits when they upgrade their strategy. Scrambled merchandising, which involves offering a wide variety of unrelated products, is not directly related to the wheel of retailing theory.

According to the Wheel of Retailing,retail Institutions _____