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Comment on the changes that have happened to retailing Over the past fifty years retailing has changed a lot. This change has occurred naturally with the great change in people's incomes and spending patterns. People nowadays have enough money to spend on things other than the basics. People have money to spend on 'luxuries' and hi-tech equipment that were not bought by people fifty years ago. The increase in people's spending money means that all item previously considered 'luxuries' can be aimed at a much larger market. This, however, also means that the prices need to be a lot lower. This decrease in price does not mean that the profit is necessarily lower, because the demand increases. The large market for such products means that they can be ordered in bulk and the retailer can negotiate lower prices with the manufacturer, which will in return mean lower prices for...

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