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Lucian Belascu

Studies in Business and Economics, 2010, vol. 5, issue 1, 34-41

Abstract: All things are about to change. World economic crisis of 2008-2009 exposed the deficiencies and imbalances within all the global economic system. When overvalued property prices collapsed, international financial institutions have suffered heavy casualties. Loss of investor confidence led to the closure of almost all global credit markets, while indebted consumers were forced to dramatically change consumer and buying behavior. Recession is running out and recovery can be seen at the horizon, but one thing is certain, consumer behavior over the last decade will not return too soon. The ceaseless changes of position in retail have forced retailers to be in a constant battle for maintaining the best position. The costumers are extremely whimsical, and their fidelity is lessened. They are drawn to the latest sensation. In order to stay in the competition, retailers have to keep in mind some aspects: competition, consumers, technology and own actions.

Keywords: modern retail; traditional retail; retail change; consumer behavior (search for similar items in EconPapers)
Date: 2010
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Handle: RePEc:blg:journl:v:5:y:2010:i:1:p:34-41