Summary

The video show me the retail scene in the world from its inception to the
present day, addressing a number of factors that have an impact on the industry
today and in the years to come. According to the video, people basically start retail
stores or scenes in the early 1900s where many small stores are being established
after World War 2 ends in 1945. Following the business model, only one brand of
merchandise is offered per store. However, as time goes on, the business model of
this store becomes more prevalent grow to a supermarket. Offering a wide range
of products, product types, and other options based on customer demand . As the
years go by, the retail industry continues to grow and is impacted by technological
advancement. Included Traditional price tags and cash registers that have been
upgraded with high-tech equipment make society more convenient for everyone.

To the point possible for people to shop both online and in physical stores, which
has led to change consumer behavior about sales ,knowledge approach
etc .Because , more people in the modern world and younger generations are
making purchases from e-commerce sites. In this way, is show expected the
fourth industrial revolution—which is currently developing robot workers that
exclude workers and will eventually produce more unimaginable technology—is
being cited as the reason for the retail industries in store decline more future . As
in the video is expected Leaving open question on how retail stores will adapt in
the future of the retail industry. In order to bring customers into to in land retail
store ,the answer is combining just like how internet being used by land store to
establish a interactive technology, straightforward, and more satisfying
individualized experience.
 My reaction in this video precisely presented me some pieces of retail
industry information giving me realization and concern in the upcoming future .
As from the start is amazing to think the development of retail industry is boost by
ending the World War 2 result on seed of retail scene on people or nation ,as
before at the time focusing on developing their forces for war firearms ,military
etc . For this is very fascinated to think what if the peace at the time not exist ?
Does the current development of retail industry exist ? Giving me realization how
powerful people can make change by push forward their daily live development
instead of war . That a simple peace-oriented development in the early 19th
century led to the creation of small stores, which later developed into
supermarkets. And later decade develop spread around become sources of jobs,
economy, and many other things thanks to the evolving retail scene.

These developments advance by three industrial revolutions, including the

development of the internet and the E-commerce platform. Making me realize how
the changing world and the retail sector affect us. One example of this is the
decline in physical stores as more and more people now shop online. Will find both
quite alarming and advantageous for me . Because many retail stores are closing
these days, traditional marketing approaches are ineffective. At the same time
fourth industrial revolution shows ,fewer people will most likely employed as
robot industry developed . But in the other hand is exciting for us ,to see new
stimulating products and shopping experiences being create , similar to how
technology has transformed the retail scene in the past such internet interaction .
Make me wonder how unimaginable the future of the retail industry will be, while
also highlighting its challenges on the upcoming fourth industrial period . Because
bottom line this video shows me the changes of technology showcased in retail
scene and decline of sales in land store . And make me realize is not bad at all ,
because all changes have reason for the better of society just like before . And as
a customer, business student, and possibly store owner in upcoming on future , this
video give me a glimpse that or we must adapt if we want to have a better future.
What is Product Management ?