which explained retail evolution as a cyclical trend in terms of the number of merchandise categories (i.e., product assortment). In this theory,
at the beginning of operation, a retail institution carries a broad assortment of but does not
carry a deep assortment (i.e., various styles within one product classification
At this early stage, the retail institution is a general store. As time passes,the retail institution becomes specialized by carrying a limited line of merchandise with a deep assortment. At this point, the retail institution is a
specialty store