The Retail Life Cycle
The retail life cycle concept states that retail institutions—like the goods and services
they sell—pass through identifiable life stages: introduction (early growth), growth
(accelerated development), maturity, and decline. The direction and speed of institutional
changes can be interpreted from this concept. Take a look at Figure 5-4. The
Figure 5-4(a) shows the business characteristics of the four stages, and Figure 5-4(b)
indicates the stages in which several mall-based retail formats are now operating