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        <title>Notitia – journal for economic, business and social issues Feed</title>
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            <title><![CDATA[Politička Ekonomija Zelene Tranzicije kao Reformskog Procesa: Pregled Literature s Osvrtom na Eu i Zapadni Balkan / The Political Economy of the Green Transition as a Reform Process: A Literature Review with Reference to the EU and the Western Balkans]]></title>
            <link>https://reference-global.com/article/10.32676/n.12.1.5</link>
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            <pubDate>Wed, 22 Apr 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[The green transition, i.e., a systemic shift from fossil-fuel-dependent economies toward low-carbon and environmentally sustainable systems, is increasingly recognised not only as a technological challenge but also as a reform process shaped by numerous economic, political and institutional factors. This review paper presents the literature on the political economy of the green transition. The paper is structured around four interconnected analytical pillars: (1) the role of the state and institutional frameworks in encouraging or blocking green reforms; (2) the influence of different interest groups, incumbent industries and emerging coalitions in shaping transition trajectories; (3) the impact of geopolitical turbulence on the pace and direction of the green transition; and (4) specific experiences of the European Union (EU) and the Western Balkan countries as illustrative examples of how these forces interact in practice. Drawing on insights from political science, institutional economics and comparative political economy, the paper systematically synthesises theoretical frameworks such as the concept of the green state, the approach to socio-technical transitions, varieties of capitalism and the political economy of reforms. The paper also identifies critical gaps in the literature, especially concerning the understudied political economy of the green transition in the Western Balkans, the democratic legitimacy tensions inherent in technocratic climate governance, and the need to analyse how institutional structures mediate distributional outcomes across diverse political contexts. By mapping this research area through the prism of political economy, the paper provides a basis for future research into how states, interest groups, and geopolitical forces shape the multidimensional process of the green transition.]]></description>
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            <title><![CDATA[Korporativno Izvještavanje o Održivosti u Kontekstu Regulatornih Prilagodbi i Prijelaznih Izuzeća / Corporate Sustainability Reporting in the Context of Regulatory Adjustments and Transitional Exemptions]]></title>
            <link>https://reference-global.com/article/10.32676/n.12.1.4</link>
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            <pubDate>Sun, 08 Mar 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[The paper analyzes the development and adaptation of the regulatory framework for corporate sustainability reporting in the European Union and Croatia, with particular emphasis on the postponement of the application of obligations and transitional exemptions introduced following the adoption of the Corporate Sustainability Reporting Directive (CSRD). The aim of the paper is to examine the extent to which regulatory amendments contribute to aligning the objectives of the sustainable transition with the need to preserve competitiveness and reduce the administrative burden on businesses. The research applies normative and analytical methods, including a review of European and national legislation as well as an interpretation of current legislative proposals. The results indicate a gradual alignment of the CSRD, the European Sustainability Reporting Standards, and the Corporate Sustainability Due Diligence Directive, alongside strengthened proportionality and a redefinition of the scope of obligated entities. Empirical indicators, including ESG rating results for 2025 and ESG Academy outcomes in the period from 2022 to 2025, confirm the growing institutionalization of sustainability in business practice. It is concluded that sustainability reporting is transforming from a primarily regulatory obligation into a strategic instrument for risk management and long-term competitiveness.]]></description>
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            <title><![CDATA[Znakovi Kvalitete Hrvatske gospodarske komore „Hrvatska Kvaliteta “ i „Izvorno Hrvatsko“ u Funkciji Konkurentnosti Hrvatskih Proizvoda i Usluga / The Croatian Chamber of Economy Quality Marks “Croatian Quality” and “Croatian Creation” as Instruments of the Competitiveness of Croatian Products and Services]]></title>
            <link>https://reference-global.com/article/10.32676/n.12.1.3</link>
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            <pubDate>Sat, 21 Feb 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[In a dynamic business environment in which organizations continuously compete for consumer trust, quality becomes a key imperative and directly affects sustainability, success, product recognition among consumers. In identifying products and services that meet high quality standards, the quality marks of the Croatian Chamber of Economy (CCE), Croatian Quality and Croatian Creation, play an important role. CCE quality marks are not merely marketing tools, they represent a guarantee that products and services have undergone independent verification, meet defined excellence criteria, and provide reliable confirmation of quality. These quality marks contribute to building consumer trust and promoting Croatian quality in both domestic and international markets, representing an investment in the future of Croatian businesses and the national economy as a whole. The aim of this paper was to analyze the impact of products and services branded with the Croatian Quality and Croatian Creation quality marks on their competitiveness and branding in an open market. The paper presents the procedure for awarding CCE quality marks and the scope of their use. The methodology is based on an analysis of the results of conducted empirical study, at the request of the CCE, by an independent specialized organization, using the methods of analysis, synthesis, induction, deduction, description, and survey research. The results of the empirical study confirmed that CCE quality marks significantly enhance the competitiveness, branding, and recognition of Croatian products and require stronger promotion as a long-term investment.]]></description>
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            <title><![CDATA[Importance of Construction Sector for Croatian Economy]]></title>
            <link>https://reference-global.com/article/10.32676/n.12.1.2</link>
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            <pubDate>Mon, 02 Feb 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Construction sector plays a significant role in GDP growth and economy development of Croatian economy and on European union level driven by growth of construction activities in last two decades. From 1980 until 2024 Croatian economy passed through transition process in order to become developed EU member in which construction sector currently contributes to Croatian GDP with 5% and contributes with 8% in total national employment. Paper provides analysis of construction sector movements from 2011 till 2024 explaining periods of growth, recession and recovery as well as period of COVID crisis. Conducting multiple regression analysis paper provides correlation between key performance indicators of construction sector like number of new apartments, number of issued construction permits, real estate price indicators and macroeconomic indicators. There is evidence of positive influence of between realized construction works and GDP growth. Additionally, construction sector demonstrated strong resistance to COVID crisis with positive contribution to post-COVID economy recovery as well as unemployment rate reduction.]]></description>
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            <title><![CDATA[Glavne Odrednice Učinkovitog Kriznog Komuniciranja u Zdravstvenim Ustanovama / Main Determinants of Effective Crisis Communication in Health Institutions]]></title>
            <link>https://reference-global.com/article/10.32676/n.11.1.6</link>
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            <pubDate>Mon, 22 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[Crisis communication is a form of communication that must be present in all organizations and in every period of their existence. The importance of communication, including crisis communication, is especially emphasized in healthcare because it is an activity that takes care for people's health and life. The purpose of this paper is to explain the key determinants of crisis communication in healthcare institutions. In this way, it will contribute to a better understanding of the crisis communication process, as well as to the strengthening of the capacity of healthcare institutions to deal with crisis situations. The descriptive-analytical method of the existing literature on the subject was applied in the paper. The paper identifies the possibilities of applying theories and models of crisis communication in healthcare institutions in order to preserve their reputation and implement activities in crisis management. The paper also proposes recommendations for effective crisis communication in healthcare institutions as an inherent part of the crisis management and decision-making process.]]></description>
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            <title><![CDATA[Društveno Korisno Učenje kao Transformativna Paradigma za Unaprjeđenje Otpornosti i Kontinuiteta Humanitarnih Sustava / Service Learning as a Transformative Paradigm for Improving the Resilience and Continuity of Humanitarian Systems]]></title>
            <link>https://reference-global.com/article/10.32676/n.12.1.1</link>
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            <pubDate>Thu, 18 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[Business continuity management and strategic resilience in humanitarian logistics impose the need for the development of robust and adaptable logistics systems. Existing capacity development models often neglect the integration of theoretical knowledge and practical application, especially in the context of strategic resilience and continuity of operations. Therefore, this paper addresses the lack of a systematic approach to connecting higher education institutions and other stakeholders in humanitarian logistics through the concept of community-based learning, as a means to strengthen humanitarian logistics. The purpose of the paper is to present a conceptual model that positions service learning as a transformative mechanism for connecting the academic community with humanitarian practice in order to improve the resilience and strategic elasticity of humanitarian systems. Methodologically, the paper is based on the synthesis of relevant scientific literature in the field of humanitarian logistics, business continuity management, strategic resilience and pedagogy of servicel learning. The proposed model shows the stages of partnership between higher education institutions and other stakeholders in humanitarian logistics, the role of students and teachers in the application of knowledge, and the expected outcomes for all parties involved. The contribution of the work is reflected in the theoretical integration of service learning with the concepts of resilience and continuity, as well as in the practical applicability of the model for creating sustainable, two-way partnerships, which will contribute to the efficiency and adaptability of humanitarian logistics in the Republic of Croatia, but also beyond.]]></description>
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            <title><![CDATA[The Role of Strategic Planning in Innovative Financing for Adaptation Regarding Climate Change: A Case Study of Municipalities in Bosnia and Herzegovina]]></title>
            <link>https://reference-global.com/article/10.32676/n.11.1.12</link>
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            <pubDate>Wed, 10 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[This paper aims to explore key aspects of strategic planning for investment activities to ensure that municipalities can adequately adapt to climate change. The main research question investigates the extent to which strategic planning is focused on climate change adaptation measures. The hypothesis is: Municipalities have planned and developed mechanisms for financing activities aimed at climate change adaptation. To validate this hypothesis, we used a methodology that included desk research and a case study of four local government units in Bosnia and Herzegovina - two from each entity. This paper provides empirical evidence on the direction that local government units, municipalities should take in adapting to climate change through strategic planning. The limitations of the research stem from the complexity of the constitutional structure of Bosnia and Herzegovina and the differing legislation applied in the two entities in the area relevant to this study.]]></description>
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            <title><![CDATA[Evaluating Modern Technologies and Practices for Strengthening Organizational Crisis Preparedness]]></title>
            <link>https://reference-global.com/article/10.32676/n.11.1.11</link>
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            <pubDate>Wed, 10 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[Organizations have recently experienced increased risks due to political, technological, social, legislative, and environmental volatility. Accordingly, effective management should strive to enhance crisis prevention and preparedness activities that mitigate risks and strengthen organizational resilience and response capabilities. Modern crises challenge traditional crisis management preparedness approaches and decision making, ranging from modes of collaboration and application of emerging technologies to needs for real-time information sharing and ways of adequately addressing stakeholders. Hence, this research aims to assess the effectiveness and challenges of modern tool use and provide an overview of activities and approaches that organizations can employ in their modern crisis preparedness and resilience strengthening strategies. Secondary data from relevant scientific and professional sources was used. Findings indicate that a proactive communication approach, collaboration, innovation, and digital transformation shape the current effective crisis management. Research limitations include the application of secondary data and the extent of available, relevant literature. This research provides insights towards a more comprehensive understanding of crisis preparedness and crisis management literature, as well as provides benefits to organizations by highlighting key trends.]]></description>
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        <item>
            <title><![CDATA[The Breakdown of the Classic Portfolio Hedge: A Markow-Switching Analysis of the US Stock-Bond Correlation]]></title>
            <link>https://reference-global.com/article/10.32676/n.11.1.7</link>
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            <pubDate>Fri, 05 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[This paper empirically investigates the structural integrity of the traditional stock-bond relationship, the cornerstone of the 60/40 portfolio, during the high inflation period of 2022–2023. The aim is to quantify the nature of the stock-bond correlation shift and determine if it represents a distinct market regime compared to prior crises. The methodology utilizes a univariate two-state Markov-Switching model applied to daily returns of the SPDR S&amp;P 500 ETF (SPY) and the iShares 20+ Year Treasury Bond ETF (TLT) from 2007 to the end of 2023 to endogenously identify distinct market regimes. The results show that while the stock market's “Crisis” regime was active during the Global Financial Crisis, COVID-19, and the 2022 downturn, the bond market's reaction differed fundamentally. In 2022, both stocks and bonds were simultaneously in their high volatility, negative-return “Crisis” regimes, a stark contrast to prior crises where bonds acted as a “Safe Haven.” It is concluded that the diversifying power of U.S. Treasury bonds is regime-dependent and fails during inflation-driven downturns, representing a fundamental regime shift and a significant challenge to traditional asset allocation models.]]></description>
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        <item>
            <title><![CDATA[Upravljanje Promjenama i Otpor Zaposlenika na Promjene / Managing Change and Employee Resistance to Change]]></title>
            <link>https://reference-global.com/article/10.32676/n.11.1.8</link>
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            <pubDate>Fri, 05 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[Managing organizational change is one of the key areas of modern management. Globalization, technological advancement, shifts in consumer behavior, and regulatory requirements continuously shape the business environment, demanding constant adaptation from organizations. Despite the necessity of change, the implementation process is often hindered by employee resistance arising from uncertainty, disruption of routines, and fear of losing status or employment. This paper presents the theoretical framework of change management and analyzes employee resistance through an overview of the most well-known models (Lewin, Kotter, ADKAR, McKinsey 7S), while also exploring a concrete case study of the LEGO Group's organizational transformation. The analysis reveals that LEGO's success largely stemmed from systematic communication, employee involvement, education, and transformational leadership, which turned initial resistance into collaboration and enabled long-term growth. The paper confirms that change is not merely a technical process but primarily a human one, in which managers must combine strategy and empathy to achieve sustainable results.]]></description>
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            <title><![CDATA[Unveiling Hidden Challenges in Public Projects: Leadership through the Lens of Top-Management]]></title>
            <link>https://reference-global.com/article/10.32676/n.11.1.10</link>
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            <pubDate>Thu, 04 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[This research delves into challenges faced by countries, especially in Eastern Europe, with escalating penalties to the European Commission due to project failures. Scientists and practitioners collaboratively explore leadership and digital transformation’s role, identifying deficiencies in project management and EU fund-related knowledge. Emphasizing the intricate link between project management effectiveness and public leadership, aim of this this study lies in the research of leaders’ contribution to successful outcomes. Methods used in the paper were as following: Theoretical frameworks include Situational Leadership, Transformational Leadership, and Upper Echelons Theory, depicting the dynamic nature of leadership. The main results of the paper underscores public leadership’s crucial role in goal clarity and socio-economic improvement, addressing challenges like poor motivation and inadequate salaries. Conclusion of the research follows the cognitive map that visually synthesizes key points, emphasizing leadership’s pivotal role. The research advocates for a robust governance framework, guiding practitioners through digital transformation complexities, and suggests future research exploring diverse relationships and validation methods.]]></description>
            <category>ARTICLE</category>
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        <item>
            <title><![CDATA[Multivariate Analysis of Macroeconomic Heterogeneity among European Union Countries in 2024]]></title>
            <link>https://reference-global.com/article/10.32676/n.11.1.9</link>
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            <pubDate>Thu, 04 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[The aim of this study was to examine macroeconomic heterogeneity among European Union countries in 2024 and to identify latent economic patterns and country groups with similar characteristics. The analysis employed hierarchical and non-hierarchical cluster analysis, discriminant analysis, principal component analysis (PCA), and factor analysis of macroeconomic variables: gross domestic product, unemployment rate, inflation (HICP), public debt, and budget surplus. The results reveal the existence of four clearly separated clusters of countries, differing in terms of economic growth, inflation, employment, fiscal balance, and public debt, with noticeable geographical and development-based distinctions among clusters. Discriminant analysis confirmed the stability of the identified groups, while PCA and factor analysis allowed for reducing the complexity of the data into key dimensions, such as fiscal stability, labour market performance, and public debt. The study concludes that the EU remains divided into distinct macroeconomic profiles, highlighting the importance of continuously monitoring heterogeneity and its implications for economic policies. The findings suggest that targeted fiscal coordination and cohesion policy interventions could support economic convergence and stability across member states.]]></description>
            <category>ARTICLE</category>
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        <item>
            <title><![CDATA[Business Analysis of the Reddit Platform in the Post-COVID Economy]]></title>
            <link>https://reference-global.com/article/10.32676/n.11.1.5</link>
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            <pubDate>Thu, 09 Oct 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[Reddit is a social network that gathers communities of users connected around a specific topic. The set of communities forms a social network known for its openness and democracy. This study aims to explore the business results and trends of the Reddit platform following the end of the COVID-19 pandemic. Data published by the corporation as publicly available data were utilized in the research and analysis, and methods of financial analysis and statistical trend regression were used. The research is divided into two periods, i.e. a period of ten years and a period of four years after the end of the COVID-19 pandemic. The research results showed that the COVID-19 pandemic had a minimal impact on the corporation's business performance, as revenues and user numbers continued to grow, while the platform remained operational at a loss. The Reddit platform has a stable user community, which is constantly growing, which gives even greater support to the network effect of the platform. This is one of the reasons why the platform is interesting to advertisers and investors, and the platform's revenues are continuously growing.]]></description>
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        <item>
            <title><![CDATA[A Bibliometric Analysis of Virtual Influencers as a Trend in Digital Marketing: Insights from WOS]]></title>
            <link>https://reference-global.com/article/10.32676/n.11.1.4</link>
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            <pubDate>Sat, 26 Jul 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[With the development of digital technology, virtual influencers are becoming an important part of a rapidly growing trend in digital marketing. The purpose of this paper, based on the conducted desk research, is to analyze publications related to virtual influencers based on data obtained from the WoS platform. This paper employs typical bibliometric analysis to identify research productivity, types of documents and sources, publication languages, geographical distribution of publications, and identifies the most active organizations, authors, keywords, along with a citation analysis. The results show that the concept of virtual influencers began to be researched in 2020, but also that in 2023, a significant increase in the scientific literature was recorded. This research is one of the few attempts to analyse virtual influencers, which is certainly one of the future trends, using bibliometric analysis based on previously published articles, and the first one using the VOSviewer software for visualization of results.]]></description>
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            <title><![CDATA[Digital Transformation and Industry 4.0 and Its Impact on SME Business]]></title>
            <link>https://reference-global.com/article/10.32676/n.11.1.3</link>
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            <pubDate>Tue, 01 Jul 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[This research addresses the following guiding question: Do Industry 4.0 and digital transformation inherently drive the progress of small and medium-sized enterprises (SMEs)? Starting from this assumption, the authors proposed a hypothesis suggesting that digital transformation has a direct impact on improving innovation and operational efficiency within small and medium-sized enterprises. The focus of this study is the digital transformation and Industry 4.0 adoption among SMEs in the Republic of Srpska, one of the two entities of Bosnia and Herzegovina. The study combined desk-based literature analysis with a practical component that involved organizing panel discussions featuring representatives from all three pillars of the Triple Helix model: representatives of the academic community, business companies, and state institutions. The empirical research was organized in the period from November 2023, to June 2024. Findings from the research indicate that digital transformation plays a significant role in enhancing business processes and fostering the growth of small and medium-sized enterprises, while also highlighting the importance of effectively motivating employees to embrace organizational change. Organizational culture, employees who are affirmative in acceptance changes allow them to change indeed events. Digital transformation by itself represents tools that can improve business, but employees are key part of changes.]]></description>
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            <title><![CDATA[Menadžment Online Reputacije u Hotelskim Poduzećima / Online Reputation Management IH Hotel Companies]]></title>
            <link>https://reference-global.com/article/10.32676/n.11.1.1</link>
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            <pubDate>Thu, 29 May 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[Active online reputation management is becoming increasingly important in the hospitality industry. This paper examines the relationship between online reviews and profitability in the hospitality industry. The research sample comprised tourist establishments in Istria. The aim was to investigate the relationship between the number of reviews and financial results, the average review and financial results, and the active response to reviews and financial results. By statistically analyzing variables from Booking.com, such as the number of reviews, average rating, whether the company responds to reviews and EBITDA margins for the year 2023, the paper shows the importance of online reputation management strategies and their impact on financial results. The importance of responding strategically and proactively to reviews and increasing the number of reviews was shown. However, it was also shown that a higher average rating is no guarantee of better financial results. By focusing on the above aspects, the paper aims to provide useful information for hoteliers who are focused on increasing their competitiveness and profitability through digital marketing activities to improve their reputation. The paper not only contributes to the academic debate in the field of hotel management, but also provides practical guidelines for optimizing hotel operations in the digital age.]]></description>
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            <title><![CDATA[Povezanost Izlaganja Proizvoda s Prodajnim Rezultatima / The Relationship Between Product Exposure and Sales Results]]></title>
            <link>https://reference-global.com/article/10.32676/n.11.1.2</link>
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            <pubDate>Thu, 29 May 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[Product display in stores affects consumer behavior and sales results. The aim of this paper was to investigate the impact of two different display methods for sweets on their sales. The study applied an experimental method in real retail conditions and provided insight into the direct effects of different display methods on sales: products displayed on freestanding shelves versus products displayed on wall-mounted shelves. The results offer an understanding of the relationship between product display methods and consumer behavior, emphasizing the need to adapt retail strategies to store conditions. A field experiment conducted in three retail locations showed that wall-mounted shelves increase product sales in high-traffic stores, while freestanding shelves encourage purchases in smaller stores. The study demonstrates the necessity of adjusting product display methods to store conditions, including store size and expected customer traffic. The paper provides specific recommendations for experts in optimizing sales space, including selecting display racks according to store type and product category, which can enhance sales results and improve the shopping experience.]]></description>
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