Assignment 1-1.docx - Consolidation in an industry often creates less competitive markets and higher prices Why has this not occurred in food retailing

Assignment 1-1.docx - Consolidation in an industry often...

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Consolidation in an industry often creates less competitive markets and higher prices. Why has this not occurred in food retailing? Please discuss thoroughly, drawing on this week's readings. This was the expected outcome for the food retailing industry. There are now conventional food retailers that are competing with big name stores such as Wal-Mart and Costco’s. They are offering varieties of food products that are cost-sensitive to consumers. The competition is unbelievably fierce between stores. Having a slow growing population makes the competition even more tight. This is because stores have to be able to have loyalty with their customers and provide reasons for them to keep
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Unformatted text preview: coming back. They also have to be able to keep up with their competitors in providing as many options, if not more, to keep their consumer satisfied. This generation is very aware of more than just cost. They are aware of cost, quality, ingredients, after-effect, healthy choices, and an abundance more. The consumers consider all of these aspects when making a purchase and more importantly, where to purchase from. Adaptation in the food retailing industry is a must for a company to survive, and so far, they are handling it quite well by providing the best they can for their consumers....
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