The UTC Nigeria Plc is a company that operates on a diversified format. The company combines the structure of a departmental store and a hyper market in its operations in the region of Nigeria. The global retail industry therefore is assessed in terms of the departmental industry segment and the hypermarket and the supermarket segment.
The companies and stores that operate in the departmental retail sector sell a diverse range of consumer products pf varying tastes to the market. The business nature and large number of companies operating in the retail sector creates an intensive competition in the sector. The departmental stores segment includes companies that operate on the format of departmental offering in their stores that provide consumer durables as well furnishings, electrical and grocery items to the customers. The different segments that come under the Global Departmental Stores Industry pertain to the segments of clothing, footwear, home wares, furniture, carpets, decorations, electric appliances and electric tools as well as health & beauty. According to the industry report, the geographic concentration of the business in the departmental stores in the retail industry was based on the regions of Americas, Asia Pacific and Europe, with the Americas having the highest share of the business followed by Asia Pacific and Europe respectively. (‘Industry Profile: Global Department Stores Industry Profile’, 2008)
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