What constitutes retail convergence?
What will be an ideal response?
Retail convergence is the coming together of shoppers, goods, and prices. Customers of all income levels are shopping at the same stores, often for the same goods. Distinctions such as discount store, specialty store, and department store are losing significance.
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George made an offer to Jacob to sell his house for $1 million. The offer was received by Jacob on May 1, 2014, and he stipulated that he had 13 days to accept it
But Jacob could not arrange the money, and on May 16, 2014 he made a counteroffer to buy the house for $850,000. Which of the following is true of the original offer made by George to Jacob? A) It is terminated by the counteroffer. B) It is still valid as the house has not been sold. C) It is invalid due to lapse of the stated time. D) It is invalid due to incompetency of the offeree.
The amount reserved for the spot market should be
A) such that the expected marginal revenue from the spot market equals the current revenue from a bulk sale. B) such that the expected marginal revenue from the spot market exceeds the current revenue from a bulk sale. C) such that the expected marginal revenue from the spot market is less than the current revenue from a bulk sale. D) equal to the maximum revenue available from the spot.