Features Of Retail Marketing Development In Modern Conditions

Abstract

Retail trade is of great importance for the economies of many countries and is a complex and constantly developing system with a large number of participants and elements. There are a huge number of international retail chains that, due to the saturation of their domestic market, penetrate the markets of other countries, gradually becoming transnational giants. Large players entering foreign markets have a strong impact on the economies of these countries: they create thousands of new retail locations, change the market share and revenue distribution, displacing smaller local players and, as a rule, affect pricing. However, many retail chains include a range of local manufacturers in their sales, thereby supporting them with additional demand, and earning the loyalty of new customers. In the conditions of constantly increasing competition, the format of retail chains under general management is the most reliable solution, as it has a number of advantages: - centralization and a high level of business management, - qualified personnel, - modern technologies, - competent solutions of marketers. Retail chains are one of the most important economic players that act as a link between producers and consumers. Modern technologies contribute to finding new sales channels and active expansion of retail chains to foreign markets. In this study, an attempt was made to identify the characteristic features of the functioning of the largest retail chains in different regions of the world and to determine the direction of their development in the near future.