The Wheel of Retailing means
a retail format or individual competitor should always be scanning the environment for a new, cheaper retailer looming on the horizon that may pre-empt its current success.
there is a life cycle to bricks-and-mortar retail formats that is very predictable.
when a retailer first enters the market, prices will be very competitive, then they will mature, and they will decline just as any other product or service experiences as it moves through PLC.
bricks and mortar stores are endangered with the advent of the online store.
that fashions recycle and prices and assortment over several years may repeat.