Describe, in your own words, ‘the new retail ecosystem.”Summarize the six strategies offered to retailers to be successfulin this unpredictable retail environment.
Expert Answer
New Retail Ecosystem:
The technology, digitalization etc had improved the retailsegments as where the changes transform towards the growth of thecompany. Different brand has been introduced in the market toattract the customers.
The following are the six strategies offered toretailers to be successful in the unpredictable retailenvironment:
- Price: The low price strategy plays a majorrole in the retail environment as that increases the sales in themarket, where the customers would get attracted towards the lowprice on the products.
- Innovation: The innovation
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