WHAT SHOULD BE THE RESPONSE OF RETAIL MANAGEMENT? The change of form in retailing

Changing market and economic conditions, inflation, and Government controls are commonplace problems facing every business, and most managers, including retail management. But, amid all the panaceas proposed, the exhortations and guidelines of Government and the solutions developed by managers, many retailers are still left with an uncomfortable feeling that the current situation may be bigger than their capacity to handle it, and that past experience offers little guide to the appropriate actions to be taken in the future. There is a growing feeling that retail management at this time is facing a significant change of form, if not a change of life itself. This article attempts to present an overview of the current situation facing the retailing industry and to identify for retail management the critical forces affecting their businesses and the major areas of impact. This will help to indicate the appropriate areas for priority management attention at this time, and possible actions that should be taken if future profitability and growth is to be safeguarded, and the process of change is to be successfully managed.