The "wheel of retailing" theory says that new retailers enter the market as high-status, high-margin, high-price operators and then evolve into discount stores as competition becomes more intense.

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The "wheel of retailing" theory actually suggests that new types of retailers usually enter the market as low-status, low-margin, low-price operations and then, over time, evolve into more conventional retailers offering more services with higher costs and prices.

The "Wheel of Retailing" Theory Says That New Retailers Enter