Analysis of Potential Changes

Philippines is a highly populated country with immenseopportunities. It has been lately seen that the growth index ofPhilippines has remarkably improved in the last few years and theeconomic dependence of the nation on foreign countries has sharplydecreased. There are many factors contributing to this tremendousgrowth of the Philippine economy. Let us here, discuss some of thesalient features of the Retail industry- departmental store.

                               Departmentalstores carry a very high value in terms of determining the truestatus of an economy. The better the average level of localdepartmental stores is, we can gauge that the better would be theoverall development of the economy. Lately, Philippines has seen ahuge growth in this sector. Let us discuss some of its salientfeatures:

                    Political:The departmental stores are the nearest junction of public marketsystem. Acknowledging the fact that the population in Philippinesis growing at a very high rate, the political dispensation of thecountry has allowed for more and more departmental stores to be setup in the suburbs of Philippines so that every citizen of thecountry could get easy access to the departmental stores. In therecent few years, Philippines has seen a rise of more than 300% inthe number of stores opening up.

                     Social:Society in Philippines lives in a very conjugative manner. Theyprefer living together and share their livelihood. Therefore,societies in Philippines were in favor of easy market access nearto their homes. Hence, the societies have readily accepted theopening of more and more departmental stores. More access to goodsand products, makes the society receive more welfare as compared tothe people have to travel far distance to get consumptionmaterials.

                    Environmental:The biggest environmental change that has been caused by thedepartmental stores is that, it has helped in the reduction ofenvironmental pollution. When the people get most of their dailyrequired products readily available in the departmental stores,they do not need to travel far and wide to search the commodities.This reduces the use of vehicles, thereby reducing the overallpopulation in the environment.

                                Technological:With the resurgence of the technology, more and more readilyavailable products and commodities are today available in themarket. More and more technologically smarter products areavailable in the market, which have now become the products ofusage 24 x 7. This nature of the consumers has forced thetechnologically abled departmental stores to reach each and everycorner of the country, thereby increasing their reach.

                                Legal:It has been seen that in some of the cases of setting up of thedepartmental stores, there has been mass violation of law. Thelegal system has more or less been maintaining a softer corner forsuch stores. Moreover, the legal framework ensures that thesedepartmental stores do not fall in to any legal complications,thereby making the road smoother for them.