Problems of small scale retail business. - SS1 Commerce Past Questions and Answers - page 1
What is a common problem faced by small-scale retailers?
Unlimited financial resources.
Rising costs and overhead expenses.
Limited competition from larger retail chains.
Which factor poses a challenge for small-scale retailers in competing with larger players?
Extensive marketing power.
Access to unlimited resources.
Greater negotiating power.
What is a constraint faced by small-scale retailers in terms of customer base?
Limited geographical reach.
Unlimited online reach.
Global market presence.
What may hinder small-scale retailers from adopting new technologies?
Resistance to change.
Access to unlimited resources.
Advanced expertise in technology.
Which challenge may small-scale retailers face in staffing?
Access to a wide pool of skilled employees.
Offering competitive salaries and benefits.
Limited training opportunities.
What are examples of operational limitations small scale retailers may suffer from?
Small retailers may face limitations in terms of inventory management, logistics, and supply chain capabilities. They may struggle with sourcing products, maintaining optimal inventory levels, or offering diverse product ranges compared to larger retailers.
Discuss vulnerability that small scale retailers face due to seasonals fluctuations
Small-scale retailers may be more vulnerable to seasonal fluctuations in demand, especially if they rely on specific seasonal products or tourist-driven markets.