Retail Life Cycle

After class on Wednesday of this week, I learned more about the retail life cycle. The stages are: Introduction, Growth, Maturity, and Decline.

When I consider the boutique that I work for called FlyButter Boutique, I can now better understand as to the various stages that the company has been moving in.

The store opened at the end of July 2007, which can be considered as the introduction stage for the company. During this time, the company was offering prices that would gain customer interest, but still yield a profit.

Secondly, is the growth stage. This took place when the store had it's grand opening party and the store gained a significantly large amount of money from sales. This later, added to the increase of sales and customer referrals.

Thirdly is Maturity, which is the state that the company is now facing. Since we are a store that carries men's and women's clothing, we have seen a maturity of women's more so than the men, sales have increased.

And lastly, the final stage is decline. Now, it can be said that the store is being faced with a decline in the men's wear. So with that, the store is having to reposition itself to maintain sales and customer interest.