A Retailer,in Studying Its Sales Data,has Found That 30 Percent

question 62

Essay

A retailer,in studying its sales data,has found that 30 percent of its shoppers are outshoppers.These outshoppers account for 40 percent of total retail sales and 50 percent of the store's gross profits.What are the retail strategy implications of this finding?

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Definitions:

Marshall McLuhan

A visionary media theorist who proposed that "the medium is the message," emphasizing the impact of media technology on human perception and society.

Papyrus

An early form of writing paper developed by the Egyptians.

Movable Type

Gutenberg’s invention that allowed individual letters or images to be moved without influencing the surrounding text.

Innis's Theories

The ideas and theories of Harold Innis, a Canadian economist and scholar known for his contributions to media theory and economic history, especially the concepts of time-biased and space-biased media.