Do you observe any difference in the retail business of yesterday and the times to come? Prepare a brief write-up and discuss it in class.

The world is dynamic. A change has been observed in almost every field. The market structure has also witnessed a few major changes. The major changes that have been observed in the retail business over time are:

a. The level of competition has increased. The different retail businesses are coming up with new strategies for the development of their market. Earlier the Marketplace was under a very simple system of purchase and selling

b. A variety of products is now being available in the market which was not the case before. A customer had to choose from the few goods available to him.

c. The traditional retail shops have decreased and large departmental stores have come up.

d. The most important change is the development of the online method of shopping. This is a recent change within the last 10 years.

e. The Metropolitan cities have a wide range of vending machines. Earlier the concept of retail business was considered to be a subject of the middle-class men. Now, even the large Businessman are investing in this area.