Introduction to business Essay Example | Topics and Well Written Essays - 500 words

Introduction to business - Essay ExampleThe US retail industry is about $4.13 trillion. Discussion Competition in the planetary house Improvement Market some(prenominal) Lowes and Home Depot be in effect after the same segment of customers. These are the people who abbreviate renovations, repairs or major upgrades on their homes. Three likely sources of revenue growth for a retail range are the following opening new stores, increase sales revenue per store and expand circumstance offerings. The current recession has ruled out implementing any of these three options and so it is quite understandable that the opposition gets tougher with the same set and number of customers. The difficult financial conditions has likewise slowed the demand for items being offered at both stores although they price their products practically the same. More importantly, demand for D-I-Y (do it yourself) home products are waning due to the recession. People are concerned with the values of their home during difficult times and will naturally tend to postpone arbitrary spending (Quinn, 2009, p. 1). Home renovations, repairs and expansion are generally optional expenses and can be postponed when necessary.