Bücher von Grishma Padhye

Retailing consists of the business activities involved in selling goods and services to consumers; it is the last step in the supply chain of a product. Retailing can happen through mail, internet, door to door, vending machine, physical store and so on. Retailing is a crucial component of world commerce as nations have achieved greatest economic and social progress through a strong retail sector. For instance, Dunne and Lusch, 2005, have reported that the GDP of eastern European countries grew slowly under the communist government owing to the lack of retail structure. However, this changed with the retail transformation incipient in 1990 post-communist era; and from 1990 to 2011, Bosnia and Herzegovina were ranked third (GDP grew more than five times), Albania ¿ 16th (134% GDP growth), and Poland 20th (119% GDP growth) in the ranking of the world¿s fastest growing nations. People of all cultures value retailers that fulfil their needs and wants, thus resulting in well-being of the society i.e. social progress.