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Amazon and Walmart, who continually invest in technology are likely to remain competitive on price, and will be able to offer services which make goods available to consumers in efficient ways, are likely to e... ... middle of paper ... ...distribution channel would lower Amazon’s labor costs, thus increasing its capacity to further reduce prices of products. As a result, traditional retailers would face even tougher competition against online retailers. Online shopping is set to radically change the dynamics of the retail industry with increased consumer reach. It is expected to continue flourishing with mobile transactions increasing and online retail sales projected to reach $434 billion over the next four years. Even big box retailers are entering in to the e-commerce market.
In creating a new company and implementing innovative sales systems, we would like to take some of our competitors business by initially drawing customers in with offering lower prices. Furthermore, in using this pricing strategy our hope is that we will be attracting customers to come in more frequently because they find a higher benefit or value when visiting our store. In turn with gaining more customers this pricing strategy will help us grow rapidly as a new
If the economy produces more goods and services than can be consumed, advertising will keep the consumers informed of their alternatives (competition). Advertising increases buyers and sellers and stimulates a healthy economy. This also creates financially healthy consumers who are informed, educated and demanding. Consumers want accountability from manufacturers when advertising. What you see is what you get, should be manufacturers slogan to live
By allowing someone to buy goods they cannot afford now, creates a boost due to the facet of revenue cycling back through small businesses. That’s also good for our tax base. Raising the minimum wage will lower the rate of employee Turnover, by doing this you create lower cost of hiring and training. Higher wages can also be a positive by increased productivity. According to the Better Business Bureau, “When an employee has investments inside the business he or she is employed at, he or sh... ... middle of paper ... ...r businesses paid in 1960’s.
Wal-Mart Stores, Inc. Walmart announces $11.8 to $12.8 billion FY2015 global capital expenditure plan. Walmart Corporate. [Online] October 15, 2013. [Cited: March 14, 2014.] http://news.walmart.com/news-archive/2013/10/15/walmart-announces-118-to-128-billion-fy2015-global-capital-expenditure-plan.
(2014) ‘FAQs’ J Sainsbury plc [Online]. Available at: http://www.j-sainsbury.co.uk/extras/faqs/general/#tabbed_section (Accessed: 05 February 2014). 7. Reuters (2007) ‘TIMELINE - Key events in Sainsbury's history’, Reuters, 05 November [Online]. Available at: http://uk.reuters.com/article/2007/11/05/uk-sainsbury-takeover-timeline-idUKL058497420071105 (Accessed: 03 February 2014).