Describe any three environmental changes that you expect to have major impact on the following industries: (i) Retail Industry

All the environmental forces impact industries in varying degree. Over a period of time, these may change and oscillate between dominant factors and insignificant factors. Retail Industry: Macro environmental factors such as Technological, Economic, Demographic, Social, Legal and political factors Rapid change in production process and product innovation Foreign Direct Investment and policies thereon Changes in Direct and indirect taxes Inflation, interest rates Changes in employment/labour laws Change in attitude towards health Developments in IT can help in support supply chain management, logistics and transportation