Assignment:
Instructions: Read the news article below and answer the following questions as if you were a Retail CEO and you were strategising your company for sales growth and profit here in the united states. (Please type your response double space, state the questions and then your answer, submit a minimum of 4 pages).
Article: What Ever happened to upward mobility? by rana foroohar
1. What are 4 trends the middle class is currently facing regarding their income as discussed in the report provided and how can this problem affect retailers profitability?
2. How does social mobility affect retailers?
3. What wiped out the middle class wealth? how will the increase in debt by individuals ( such as student loans) and family cost affect retailers?
4. What positive opportunities is globalization bringing to retailers? explain at least 2.
5. What effect will technology have on retailers (good and bad)?
6. For most fashion retailers selling to the middle classing in the USA, what is the best corporate strategy to grow profitability based on the content of this report and your own personal research? why?( provide at least 3 reasons)