Business, 06.12.2019 06:31 sophie2001sophie

Black friday – the day after represents one of the biggest shopping days and marks the first official day of christmas shopping. however, in 2018 sales on this day were 9% lower than the previous year and represent a trend in the retail market – revenues of departmental stores have either remained stagnant or declined (macy’s stores revenues between 2008 and 2018 stayed stagnant around $26b and jc penny actually experienced a decline during the same period from $20b to $13b. on the other hand, online giant, amazon revenues grew from $19b in 2008 to more than $230b). there are similar downward trends of other brick & mortar department stores and a growth in online purchases by consumers.

explain the principal factors (demographic, socio-economic, lifestyle and behavioral), which have contributed to these trends. offer specific marketing and economic strategies in which traditional departmental stores/grocers can adapt/reposition their competitive positions to remain viable/profitable.

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Black friday – the day after represents one of the biggest shopping days and marks the first offici...

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