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A new competitive landscape is emerging in retailing. Restrictive regulations and relative market saturation in developed countries have led to a growing number of local consolidations-a trend most likely to continue. At the same time, major players are now seeking additional growth beyond their borders, looking in particularly to developing countries, where regulatory restraints are less formidable.
For retailers, the next challenge will be dealing with either the emergence or new retail business models or the resurgence of prior ones. These include aggressive discounters, high-end retailers, players adding value through enhanced service or broadened offers, and retailers choosing to "hang in there" and strengthen their local market share.
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