Question

Which of the following is a likely reason for a retailer to close its stores when challenged by a new retailer such as Aldi

Answer 1

(C) Failure to conduct a competitor analysis is a likely reason for a retailer to close its stores when challenged by a new retailer such as Aldi.

Who is a retailer?

• Retail is the sale of goods and services to people, as opposed to wholesale, which is the sale to businesses or institutions.
• A retailer buys in bulk from manufacturers, either directly or through a wholesaler, and then sells in smaller amounts to consumers for a profit.

• Top Retailing Issues & Challenges Today

1. Consumers Prefer Multichannel Purchasing Experiences.
2. Customers Expect a Convenient Experience.
3. Retailers Need a Standout Experience to Attract Customer Loyalty.
4. Failure to conduct a competitor analysis.
5. There are numerous technologies available to drive marketing and sales, but they do not appear to work in tandem.

Therefore, (C) Failure to conduct a competitor analysis is a likely reason for a retailer to close its stores when challenged by a new retailer such as Aldi.

Know more about retailers here:

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Complete question:

Which of the following is a likely reason for a retailer to close its stores when challenged by a new retailer such as Aldi?

a. Poor business practices

b. Failure to support its customers

c. Failure to conduct a competitor analysis

d. Poor product selection