Wheel of Retailing
a hypothesis of M.P. McNair explaining the patterns of change in retailing; the hypothesis is that new types of retailers cut prices by lowering or eliminating customer services, but once established they increase prices and customer services and so become vulnerable themselves to new, low-price retailers. | ||||
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Wheel of Retailing definition was found in categories: Business & Finance(1)
Wheel of Retailing Definition from Business & Finance Dictionaries & Glossaries
| Raynet Business & Marketing Glossary |
Wheel of Retailing
a theory to explain the institutional changes that take place when innovators enter the retail arena; a discounter expands and moves up market leaving room for another discounter to move in; they undercut the first discounter but then move up market themselves and so the 'wheel' revolves.
a theory to explain the institutional changes that take place when innovators enter the retail arena; a discounter expands and moves up market leaving room for another discounter to move in; they undercut the first discounter but then move up market themselves and so the 'wheel' revolves.