The concept which states that new retailers begin as low price and low margin retailers and then covert into high priced retailers they have replaced is called?
Correct answer: B. wheel of retailing concept
- A. wheel of mega retailers
- B. wheel of retailing concept
- C. cycle of retailers
- D. retailers discount concept
Explanation
The wheel of retailing describes how retailers often enter with low prices, low margins, and limited services, then add facilities and services and become higher-cost operators. This creates an opportunity for new low-price retailers to replace them.
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