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The retail life cycle consists of four stages: introduction, growth, maturity, and decline. For example, a new tech gadget store may enter the market (introduction), experience increasing sales and popularity as consumers embrace the technology (growth), reach peak sales with strong competition (maturity), and eventually face declining interest as newer technologies emerge (decline). Each stage requires different marketing strategies and operational adjustments to adapt to changing consumer behaviors and market conditions.

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A theory asserting that institutions -- like the goods and services they sell -- pass through identifiable life-cycle stages: innovation, accelerated development, maturity, and decline.


How does the concept of the retail life cycle relate to HSN?

The retail life cycle describes the stages a retail business goes through, from introduction to decline. HSN (Home Shopping Network) has navigated various phases of this cycle by adapting its product offerings and marketing strategies. Initially, it thrived during the introduction of televised shopping, but as consumer preferences shifted towards digital platforms, HSN also embraced e-commerce and social media to rejuvenate its brand. Thus, understanding the retail life cycle helps HSN identify opportunities for innovation and growth in a competitive market.


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