The biggest challenge in the competitive world of retail is to stay relevant to the customer. In order to stay relevant to the customer, a retailer would primarily require an understanding the changes occurring in the environment and the consumer and his lifestyle and develop an ability to adapt to them. While it is necessary to have the right Location and communication for the store,
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the products to be sold occupy a position of primary importance. Imagine a situation where you visit a retail store to buy a product, maybe a T-shirt. The size that you need is Medium. In the store you see various colors and designs and select one design. If this design is not available in the size that you need it in, you may decide to buy another design or may decide to go to another store to buy. If you decide on the second course of action, the retail store loses a sale and a customer.
