Which of the following statements is true of the wheel of retailing?
a) Older retail outlets usually face competition from high-status, low-margin stores.
b) Retail outlets usually enter a market as high-status, high-margin stores.
c) According to the wheel of retailing, retail outlets usually reduce their prices with time.
d) It explains the continual change observed in retail businesses.
e) It explains how retail outlets structure their branding and communication efforts.
Answer: D