In the retail life cycle, growth is the stage of emergence of a retail outlet, with a sharp departure from existing competition.
The theory of retail life cycle is first introduced by William Davidson W. R, Betas A. D and Bass S. J in 1976.
According to the retail life cycle idea, establishments go through four stages just like the products and services they sell:
The authors of this hypothesis used the American retail industry as their study subject and noted that, in line with the retail cycle, the time it takes for various new company forms to develop from an idea to a fully developed entity.
To know more about retail life cycle here:
https://brainly.com/question/9687903?referrer=searchResults
#SPJ4
