the progression of economic value

Advances in technology and communications have been the primary factors affecting increased competition in developed markets. These factors contribute even more so in emerging markets, where the trend toward change has happened at an even faster rate.

Consumers are becoming more aware of the power of choice. More product selection in the market invariably requires more effort from retailers to acquire new customers and to impart loyalty in their existing customers. In essence, the learned consumer is continually seeking “the next best thing.”