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Exchange Theory of Communication, proposed by sociologist George Homans, emphasizes the role of social exchanges in human interaction, suggesting that individuals engage in interactions with the expectation of receiving rewards or benefits in return. In the context of retail, this theory can be applied to both customer-service provider interactions and the overall dynamics of buying and selling in a retail environment. In a retail setting, the exchange begins when a customer enters the store or engages with an online platform. The customer’s primary expectation is to receive value, whether through products, services, or information. From a retailer’s perspective, the goal is to offer an exchange that _____ ____ ______ ___ ______.
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