Course Level 1: Introductory
Estimated Study Time: 1-2 hours
The retail industry has gone through drastic changes since the general stores and the mail-order catalogs of yesteryear. It now faces major competition in the form of e-commerce and online retailing. The course Introduction to Modern Retailers and Consumers teaches you about the modern retail formats that exist in the retailing world of today and you will be introduced to how consumers shop in the 21st century.
The course begins by introducing you to the variety of retail formats that exist today such as department stores, chain stores, franchises, to low cost discount stores and warehouse-style retail stores. The course then looks at ways traditional retailers have had to rethink their business models and why they introduced new retail archetypes such as lowest cost, convenience-location, convenience-pre selection, and platform operator. This is followed by a case study that analyses modern consumer behavior, including a discussion on the continued relevance of brick-and-mortar stores.
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