Many homes across the United States have multiple cell phone users. This factor within itself stimulates the purchasing power of consumers. This factor also gives evidence to market managers that a promotion that focuses on the multiple units charging capability of the tray will intrigue not only consumers, but large business as well. Shopping malls are a good example. Shopping malls that seek to add convenience for customers on extended shopping visits will be impressed with this item.
During the past few months I have visited K-Mart many times to make purchases as the location is very close to my employer. I find the store to be clean and neat; however the store is very large and sometimes can be confusing in where to find things. Products seem to be spread out and rather than keeping seasonal products up front where the customer can get to them easily the customer has to walk all the way to the back of the store to get to them. I am sure that the reason for this is to make the customers walk past the jewelry counter, electronics, toys and cosmetics in hopes they will purchase additional items. Many of the sales associates are friendly, however they seem to be hard to find.
The retail industry uses this information to create a more inviting experience for the consumer, and they have discovered that the promise of great deals through the use of advertisements, colorful signs, attention-getting logos, helpful and knowledgeable employees, and easy-to-access products inside of the stores. These tactics may increase the amount money spent and/or the volume of products sold. The retail industry has devoted many resources to understanding what motivates consumers. Malcolm Gladwell in his essay “The Science of Shopping” explores this trend of studying consumer shopping habits. Gladwell points out, “There are companies that put tiny cameras inside frozen-food cases in supermarket aisles” (408).
Feature Areas The Reitmans store’s feature areas include windows, walls, promotional areas, freestanding fixtures and mannequins, point of sale areas and fitting room. Windows The Reitmans store’s display window is located in the front of the store. In the display window, some of the store’s newest merchandise is being presented through several mannequins, with a row of spotlights shining the merchandise. These window displays can help draw customers into the Reitmans store and are providing a visual message about the women spring apparel for sale in the store and the affordably stylish image that the Reitmans store wishes to portray. Walls The three walls of the store are divided into two
Boots have to make sure that they are able to meet customer expectations P4 - Identify the competitive factors in the retail environment a selected organization faces Bargaining power of buyers: Customers are powerful potential buyers as they can switch easily and doesn’t cost them much as they have stores in easy locations. However supermarkets will have to reduce prices in order to attract customers. There are a lot of small sellers and few large buyers as the buyers buy in large quantities which show that they are powerful. A single buyer is a large customer to a firm as they buy more. Buyers purchase from multiple sellers at once, such as customer stores.
The seven acre theme park houses an indoor roller coaster, Ferris wheel, and multiple games and rides. Lastly, the management at Mall of America has implemented several programs for the start up entrepreneur. These programs have a wide range of prices and have options so that anyone can get their foot in the door. Different trends that have occurred since the opening of the Mall of America include: changes in consumer spending, retailers catering to mass targets, and economic growth and recession. Consumer spending has changed primarily from bouts of growth and recession.
Women and men shop very differently. You can see this just from simple observation. When I visit local stores such as Elmer’s, Wal-Mart, and the Delta Plaza Mall, I can see how men and women differentiate when is comes to shopping. Men, usually middle aged and older, will tend to get in and get out. It is more of a mission for them.
The companies all operate in the Services industry, specifically in the Discount, Variety Stores sector. With the general trends showing consumers are tightening their wallets and working to keep their earnings within the household, discount retailers are seeing stable to significant growth in sales. Target remains a high performer, with a market capitalization of 40.5 billion dollars, second only to Wal-mart. Also, the multiline retail industry includes very well-known general merchandise and department stores such as Target (TGT), Dollar General (DG), Macy’s (M), Kohl’s(KSS), Nordstrom (JWN), Dollar Tree (DLTR), Family Dollar Store (FDD), Sears Holding (SHLD), and J.C. Penney (JCP). The variety of products offered by multiline retail companies is very
Radio Shack and Best Buy: Comparing Performance Both RadioShack and Best Buy sell consumer electronic merchandise; however, the companies have different retail strategies. RadioShack targets three family-oriented customer segments: (1) Active suburban families with teenage children, (2) Urban "flash" consumers with preteen kids, and (3) "small-town values" families with children of all ages. These three demographic groups represent 38 percent of the u.s. population and 46 percent of the consumer electronics market. Through its stores, kiosks, and Web site, RadioShack provides families with accessories, consumer electronic solutions, and proprietary novelty products. The customers in its target markets are willing to pay a reasonable price in return for convenience, selection, and simplicity in their shopping experience.
In “The Mall as Refuge”, sociologist George Lewis considers the distinction between manufactured communities and people's actual socializing behavior. Today’s shopping centers have become about much more than just shopping. They host restaurants, arcades, movie theatres, and even professional services like legal, medical or optical aid. The mall is set up to be a comfortable and well equipped place for shoppers; it creates an illusion of a community. Ironically, in the illusion of a community, small communities have actually arisen.