Ivan Slavchev
Abstract:In conditions of a changing environment where the dominant role is occupied by the consumer, the business is obliged to act differently. The companies start to cluster in order to improve their competitiveness. This is a phenomenon that is increasing rapidly and is expected to continue. Retail parks are a modern interpretation of the cluster approach which creates a competitive advantage for participating companies, both in terms of costs and differentiation. By bringing together outlets from different industries, consumers are provided with an enhanced customer experience while saving their time and effort due to the well-developed infrastructure and parking spaces. Retail parks create a win-win situation for both companies and customers and in addition to that they also have a beneficial impact on the development of the region where they are built. They create new jobs, develop new and further improve the available infrastructure, while creating an environment for innovation
Key words: competitiveness; retail park; cost competitive advantage; corporate responsibility
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