In the second stage of the retail life cycle,innovative retailers expand their geographic bases of operations and newer firms enter the field.

Question

Quizplus · Accepted Answer

This statement is true. In the second stage of the retail life cycle, successful retailers expand their reach through new stores or franchising, and new firms enter the market with innovative ideas or adaptations of successful concepts. This stage is characterized by increased competition and the need for differentiation in order to gain market share.

In the Second Stage of the Retail Life Cycle,innovative Retailers