New trends in retail trade and their influence on consumers' behavior in view of area of Herzegovina
Contemporary companies accept the real challenges facing modern, turbulent and primarily complex business environment. It is not at all simple to acquire and maintain the competitive advantage on the glutted, highly competitive, uncertain and more and more global market. If we turn back to historical beginnings of business environment and compare them with actual one, we would find a little of common. The market was previously relatively stable, technology was not quite tending to changes, consumers were inert and competition was limited within sectors and regions. But, what is happening on the market today? Globalization processes followed by intensive development of information and telecommunication technology have resulted in occurrence of relentless and more and more severe competition from one side, and more demanding, conscious and fastidious consumers from the other. Consequences of globalization and intensive development of technology permeate entirely all aspects of life, work and business operation bringing at the same time some new postulates of functioning both the market and marketing. In that context, retail trade also experiences significant changes, which influence implies new forms of buyers’ behavior sometimes to such extent that there can be spoken about the standardization of certain number of consumer habits and behaviors, logically taking account of determinacy of specific social and business environment.