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Retail Companies

The gradual growth of retail companies throughout the world exhibits the boom that is taking place in the worldwide retail industry over the years. People are gradually developing the purchasing power and are becoming more and more shopping freaks. As for instance, in India the Indian middle class have developed this crave to purchase from the known retail chains. The influx of the foreign investments has been the prime encouraging factor that led to the growth of retail companies in entire India. But it is seen that in many countries retail companies are yet to reach the stage of maturity, they are still in their growth phase.

The largest retail chain in the world, Wal-Mart, enjoys the esteem of being the largest corporation in the entire world in terms of gross sales. There are various issues in retail companies that are followed by them in order to maintain a proper balance in the market. Like many retail companies worldwide follow the Universal Declaration of Human Rights and ILO Standards. Abuse of worker’s rights, child labor, sanitary working conditions, minimum wages, etc. are some of the sensitive labor related issues that are strictly followed by the retail companies.

The reasons that have brought a radical change in the people’s shopping attitude and led to the growth of retail companies are as follows:

People are developing an increased purchasing power
The effect of globalization
Rise in the upcoming business sectors such as the IT and engineering firms
A gradual change in people’s choice of commodity and attitude of buying

There are numerous retail companies throughout the world. These companies have originated in different countries and then have successfully made a place for themselves in the market.

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