The changing face of retailing: How department stores and discount stores are evolving. This report should cover the historical development of department stores and discount stores. Start by defining both of these types of retail institutions and then describe what merchandise they carry and how they market to distinct types or market segments of retail customers. Discuss mergers, diversification and downsizing in the assignment, as well as cost containment and value-driven retailing being driving forces behind the evolution of these institutions into the retail outlets of tomorrow. Will retailing be different in 5 years time, or in 10 years time? Why - what will make these types of store different? Will there be other types of stores that will open up in different markets? Use examples wherever possible to substantiate opinions in the report. Also need to refer to the wheel of retailing concept, and the retail life cycle. Discuss ways in which shops assemble their merchandise for consumers, such as scrambled merchandising.