A Refined Approach to the Wheel of Retailing

Explains the Wheel of Retailing as an attempt to explain the dynamics of change and evolution at the social level. Suggests that the theory of new retail institutions beginning with low levels of prices and services and then upgrading is not always proved to be so. Concludes that retailing is a social process with the development of institutions determined by the society in which they exist and not by a deterministic pattern of development.