Economic and Social Climate of Retail Industry
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INDUSTRY/ECONOMIC-SOCIAL CLIMATE
The retail industry is a very broad area and any company that sells a service, or material goods, like retail, food, cleaning, or automobiles are in the retail industry. The area of the retail industry that relates to Everything Mart is the general retail store. Everything Mart fits into the same segment of the industry as Wal-Mart, Target and Kmart. Everything Mart is also compared to department stores chains like May Company when it comes to the non-grocery areas of the store.
Determining the economic and social climate for the nation involves economic experts who use trends from previous years and trends within the fiscal year to help them forecast expectations of the coming months.
Economic Trends
Looking at the trends of the economy, the country seems to be rebounding from the recession of early 2001 and the events of 9/11. According to the Census Bureau, "total retail sales in the U.S. were up 7.9% for the year 2001, to $3, 488 billion" and were forecasted to "be up an additional 7...