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Exchange Theory of Communication views communication as a process in which individuals interact with the expectation of receiving certain benefits while minimizing costs. In a retail environment, this theory can be applied to understand how retailers and customers communicate with each other to create mutually beneficial exchanges. Retail interactions are not merely transactions of goods and money; they involve continuous communication that builds trust, satisfaction, and long-term relationships. In retail settings, communication begins with understanding customer needs and expectations. According to Exchange Theory, both the retailer and the customer seek value in the interaction. The customer expects quality products, fair prices, helpful information, and good service, while the retailer expects sales, customer loyalty, and positive feedback. Effective communication helps both parties achieve these goals. _____ ________ ___ ___ ________ ________ ______ _____.
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