Many considerations go into locating and developing a business. This includes the development of many various types of stores in a community. It seems that there are a surplus of grocery stores, pharmacies, and convenience stores- practically one on every corner. So if an interested developer wants to open one, many factors must be considered. I looked at and analyzed the new Walgreens Pharmacy located in Burlington. It was just constructed and has recently opened its doors for business. Categorically, Walgreens is in the central business district, an inner city/main street business. The advantages can be many. These include the store’s location and convenience. Many residents live in the area of this Walgreens. Residents are supportive of a drug store that is close to their residence. When an individual is sick or is in need of a quick refill of a prescription, it is important that the pharmacy be close at hand. If necessary, being within walking distance might be of significant importance if the customer is unable to drive. The pedestrian traffic of this Walgreens is significantly high. There is a mall in close proximity (directly across the street) which draws and accommodates the customers and shoppers. If a customer can obtain many things they need without having to travel distances to get them, they are likely to shop and use this store. Basically, this Walgreens is located in a very populated and high traffic area. As stated from our power point, “It does minimize the customer’s effort to get the product/service by locating it close to where customers are located.” There is a popular grocery store (Harris Teeter) also located on the opposite corner along with A Cleaner World, a hair salon, two restaurants and the ever popular TJMaxx. There is a video store, Pier One and a service station. These encompass the variety of needs that a shopper might need in the availability of a very confined area. At this location, Walgreens will be able to give other pharmacies competition. Within an approximate mile radius, there is a CVS pharmacy, two Rite Aides, Wal Mart pharmacy, and a pharmacy within Harris Teeter. Shoppers can do great comparative price shopping and not have to go a great distance. I also saw disadvantages with this Walgreens store location. One major disadvantage that I saw was the traffic and parking situation. The area is very heavily traveled and congested, especially on Fridays. South Church Street and Huffman Mill Road are the two main thoroughfares and traffic is extremely hectic. With the pharmacy on the corner, and it providing a drive through window, makes it difficult to get in and out easily. Parking is extremely limited. The parking lot joins into the next lot where there is a pizza pick-up and other various strip mall stores that really have no directional arrows. The drivers must be on the alert of oncoming traffic and pedestrians as well. With so many things happening at once, I feel that it is very distracting in this congested area and hard for drivers to possibly stay focused on what they are doing. I also see a disadvantage of poor security because of the cramped location. A shoplifter could easily get away because of the tight and close quarters of the store. Stores are going to have advantages and disadvantages due to their location. But when thinking and planning on locating a business, the individual must have the advantages outweigh those of the disadvantages. To think of the customers accessibility first and the ease of the shopping experience are must considerations when planning a business and its location. I don’t think that this is a good location for this Walgreens as far as pedestrian safety goes. But for the business part, if they have competitive prices attractive for the shopper during these economic times, Walgreens might be successful. Reply Forward
New window Print all« Back to Inbox Archive Report spam Delete Move to Labels More actions.
Friday, March 20, 2009
Friday, March 6, 2009
Retailers Who Have Failed
Articles:
Burr, Mike. “Circuit City Failed at Business by not Really Trying”. November 11, 2008
http://www.prefixmag.com/news/circuit-city-failed-at-business-by-not-really-tryi/22948/
Hamilton, Anita. TIME. “Why Circuit City Busted, While Best Buy Boomed”. November 11, 2008. http://www.time.com/time/business/article/0,8599,1858079,00.html?imw=Y
Linens ‘n Things to Liquidate After Failing to Find a Buyer. http://dealbook.blogs.nytimes.com/2008/10/14/linens-n-things-to-liquidate-after-failing-to-find-a-buyer/?pagemode=print
Every day that we listen to the news, read the paper, or merely engage in a discussion with our friends and family, the topic of the number of retailers and businesses declaring bankruptcy or shutting down their stores grows in numbers. Two of these businesses, Circuit City and Linens n’ Things, are on this ever growing list of use to be companies. Many question what caused their failure and was it merely the current economic decline that created their failure in the retail business or were there other reasons that caused them to have to shut their doors.
It appears from reading and looking at the broad picture of Circuit City, the economy was not the sole or even the main problem for this retail-electronic store’s failure. Looking over the years of management of the store and the type of products offered to the customers, Circuit City created its decline due to the lack of innovative merchandise that it was providing to the consumers. Burr states that, “The chain failed to secure better locations for their stores or move onto the web, didn’t move as aggressively into gaming as their competitors, and failed to get behind emergent electronics such as the iPod. Compounding the problem is that to increase profit margins when sales began to lag, Circuit City laid off many of its better compensated employees in favor of cheaper workers.” This definitely caused problems in the fast paced world of marketing that we now are engaged in. Hamilton stated that “Circuit City was incredibly successful in the 1980’s and 1990’s, but they never changed after that.” They “became complacent- a fatal mistake in the fiercely competitive and fast evolving retail-electronics industry.” For Circuit City, I feel that there were many inner conflicts and problems that faced them and the declining economy merely added the final blow. It’s hard to hold your head above water when there is so much pulling you down. With competitors such as Best Buy and Wal Mart, Circuit City fell behind in competitiveness and “fresh product” appeal to the updated and fast paced society of today.
In contrast to Circuit City, I feel that Linens n’ Things did fail due to the slump and downfall of our economy. The products that Linens n’ Things provided to the consumer dealt with the products that a homeowner would use in their house. Since the housing market has taken such a drop and the price of buying and furnishing a home has declined, then the demand for home furnishings would naturally drop. James Schaye, president of Hudson Capital Partners involved with the liquidation of Linens n’ Things stated that “the sharp decline in the housing market and a slump in consumer discretionary spending undermined the company’s ability to pay its suppliers. If capital markets weren’t so tight, I think this chain might possible have survived.” I agree with Mr. Schaye with the fact that the housing decline and the ability of some to get a home loan in this deep economic slump, is the type of business that is definitely suffering from this current recession. I feel sure that other home supply stores are feeling a big crunch with their sales. These include Belk, Bed, Bath, and Beyond, and other home furnishing distributors and retailers.
Burr, Mike. “Circuit City Failed at Business by not Really Trying”. November 11, 2008
http://www.prefixmag.com/news/circuit-city-failed-at-business-by-not-really-tryi/22948/
Hamilton, Anita. TIME. “Why Circuit City Busted, While Best Buy Boomed”. November 11, 2008. http://www.time.com/time/business/article/0,8599,1858079,00.html?imw=Y
Linens ‘n Things to Liquidate After Failing to Find a Buyer. http://dealbook.blogs.nytimes.com/2008/10/14/linens-n-things-to-liquidate-after-failing-to-find-a-buyer/?pagemode=print
Every day that we listen to the news, read the paper, or merely engage in a discussion with our friends and family, the topic of the number of retailers and businesses declaring bankruptcy or shutting down their stores grows in numbers. Two of these businesses, Circuit City and Linens n’ Things, are on this ever growing list of use to be companies. Many question what caused their failure and was it merely the current economic decline that created their failure in the retail business or were there other reasons that caused them to have to shut their doors.
It appears from reading and looking at the broad picture of Circuit City, the economy was not the sole or even the main problem for this retail-electronic store’s failure. Looking over the years of management of the store and the type of products offered to the customers, Circuit City created its decline due to the lack of innovative merchandise that it was providing to the consumers. Burr states that, “The chain failed to secure better locations for their stores or move onto the web, didn’t move as aggressively into gaming as their competitors, and failed to get behind emergent electronics such as the iPod. Compounding the problem is that to increase profit margins when sales began to lag, Circuit City laid off many of its better compensated employees in favor of cheaper workers.” This definitely caused problems in the fast paced world of marketing that we now are engaged in. Hamilton stated that “Circuit City was incredibly successful in the 1980’s and 1990’s, but they never changed after that.” They “became complacent- a fatal mistake in the fiercely competitive and fast evolving retail-electronics industry.” For Circuit City, I feel that there were many inner conflicts and problems that faced them and the declining economy merely added the final blow. It’s hard to hold your head above water when there is so much pulling you down. With competitors such as Best Buy and Wal Mart, Circuit City fell behind in competitiveness and “fresh product” appeal to the updated and fast paced society of today.
In contrast to Circuit City, I feel that Linens n’ Things did fail due to the slump and downfall of our economy. The products that Linens n’ Things provided to the consumer dealt with the products that a homeowner would use in their house. Since the housing market has taken such a drop and the price of buying and furnishing a home has declined, then the demand for home furnishings would naturally drop. James Schaye, president of Hudson Capital Partners involved with the liquidation of Linens n’ Things stated that “the sharp decline in the housing market and a slump in consumer discretionary spending undermined the company’s ability to pay its suppliers. If capital markets weren’t so tight, I think this chain might possible have survived.” I agree with Mr. Schaye with the fact that the housing decline and the ability of some to get a home loan in this deep economic slump, is the type of business that is definitely suffering from this current recession. I feel sure that other home supply stores are feeling a big crunch with their sales. These include Belk, Bed, Bath, and Beyond, and other home furnishing distributors and retailers.
Friday, February 13, 2009
VALS Segments
VALS Segments
In taking the VALS survey, I found some of the questions extremely interesting. Several seemed to cover one end of the spectrum to the other. When one asked about people to the next about machinery to the one about the Bible, it seemed hard to attain what the base line of the questions was and where it was going. But as the results were revealed, I found it surprising that the results somewhat proved positive with my opinion or characteristic approach to life and the person I do consider myself as being. The VALS survey revealed that from the framework, my primary VALS motivation was a striver. This does apply to me from the striver description in that I am somewhat trendy and fun loving and I am motivated by achievement. As stated, “Consumers who are primarily motivated by achievement look for products and services that demonstrate success to their peers”. I am concerned about what others perceive me as, but don’t demand or seek their approval at the same time. The secondary classification giving emphasis to my dominant approach is experiencer. This also appears accurate in that I enjoy excitement and social activities. I do spend on fashion and enjoy pampering myself.
I do differ and disagree, however, to the point that I do want a career and see myself as head strong in achieving it. I also differ in the belief as it said that I shop to demonstrate abilities to buy. I don’t shop to prove anything. Impulsivity as financial circumstances will allow is not relevant in that I feel I am very conscientious and frugal with my money and carefully consider products before actively purchasing or investing.
In reference to whether this corresponds to the target person we presented on Tuesday, I feel that it is similar because our person enjoyed the stylish products because it was seen that he shopped at REI which was the top line of outdoor entertainment. People with more money would go there to shop. He was a striver because he fell into the opinion that money defines success. He had a big truck and leaned toward the extravagant way of living. I compare him also as an experiencer because he found an outlet in sports and outdoor recreational social activities.
In taking the VALS survey, I found some of the questions extremely interesting. Several seemed to cover one end of the spectrum to the other. When one asked about people to the next about machinery to the one about the Bible, it seemed hard to attain what the base line of the questions was and where it was going. But as the results were revealed, I found it surprising that the results somewhat proved positive with my opinion or characteristic approach to life and the person I do consider myself as being. The VALS survey revealed that from the framework, my primary VALS motivation was a striver. This does apply to me from the striver description in that I am somewhat trendy and fun loving and I am motivated by achievement. As stated, “Consumers who are primarily motivated by achievement look for products and services that demonstrate success to their peers”. I am concerned about what others perceive me as, but don’t demand or seek their approval at the same time. The secondary classification giving emphasis to my dominant approach is experiencer. This also appears accurate in that I enjoy excitement and social activities. I do spend on fashion and enjoy pampering myself.
I do differ and disagree, however, to the point that I do want a career and see myself as head strong in achieving it. I also differ in the belief as it said that I shop to demonstrate abilities to buy. I don’t shop to prove anything. Impulsivity as financial circumstances will allow is not relevant in that I feel I am very conscientious and frugal with my money and carefully consider products before actively purchasing or investing.
In reference to whether this corresponds to the target person we presented on Tuesday, I feel that it is similar because our person enjoyed the stylish products because it was seen that he shopped at REI which was the top line of outdoor entertainment. People with more money would go there to shop. He was a striver because he fell into the opinion that money defines success. He had a big truck and leaned toward the extravagant way of living. I compare him also as an experiencer because he found an outlet in sports and outdoor recreational social activities.
Sunday, February 8, 2009
Background Information on Express
Some Background Information on My Favorite Retailer- Express
Clothing stores seem to come and go. But to even become a store, there must be a beginning, a creator/innovator, and personal experience in the experimental process to be a member of the ongoing history of this world of retail industry. My favorite retailer, Express, is no different from other stores. To begin, the Express president-cum-CEO Michael Weiss seemed to have a vision that Express could and would be an “original, stylish and forward-looking fashion that attracts the trendsetters. They are innovators who mingle fashions and innovate in order to individually express the final products” (www.1tshirtsworld.com). With those thoughts, Weiss began the Express clothing line and industry. Express has its headquarters located in Columbus, Ohio. It was founded in 1980 and appears to be gaining in popularity more each day.
Today, Express “is a well-known American specialty fashion retailer which primarily delivers contemporary stylish outfits for both young men and women who stand in the front line of fashion” (www.1tshirtsworld.com). Previously, Express had more than 550 clothing stores in the United States. As of today, there are more than 620 men’s, women’s, and dual-gender stores in the United States that sell trendy private-label apparel and accessories” (www.hoovers.com). For almost 30 years now, Express has been “delivering (an) innovative style fabulous sensitivity in the market trend” (www.1tshirtworld.com).
Express store and well-known brand label expanded from the company called Limited Brands. Limited Brands decided to extend their structure stores and reunited both labels to re-create Express Men’s in 2002. Since there have been many closing and regrouping of industries and retail stores today due to the economic challenges that now face industries of many types, Limited Brands sold the Express chain to Golden Gate Capital in mid-2007.
Works Cited:
http://www.hoovers.com/express,-llc/--ID__105440--/free-co-profile.xhtml
http://www.1tshirtsworld.com/express-clothing-store.html
Clothing stores seem to come and go. But to even become a store, there must be a beginning, a creator/innovator, and personal experience in the experimental process to be a member of the ongoing history of this world of retail industry. My favorite retailer, Express, is no different from other stores. To begin, the Express president-cum-CEO Michael Weiss seemed to have a vision that Express could and would be an “original, stylish and forward-looking fashion that attracts the trendsetters. They are innovators who mingle fashions and innovate in order to individually express the final products” (www.1tshirtsworld.com). With those thoughts, Weiss began the Express clothing line and industry. Express has its headquarters located in Columbus, Ohio. It was founded in 1980 and appears to be gaining in popularity more each day.
Today, Express “is a well-known American specialty fashion retailer which primarily delivers contemporary stylish outfits for both young men and women who stand in the front line of fashion” (www.1tshirtsworld.com). Previously, Express had more than 550 clothing stores in the United States. As of today, there are more than 620 men’s, women’s, and dual-gender stores in the United States that sell trendy private-label apparel and accessories” (www.hoovers.com). For almost 30 years now, Express has been “delivering (an) innovative style fabulous sensitivity in the market trend” (www.1tshirtworld.com).
Express store and well-known brand label expanded from the company called Limited Brands. Limited Brands decided to extend their structure stores and reunited both labels to re-create Express Men’s in 2002. Since there have been many closing and regrouping of industries and retail stores today due to the economic challenges that now face industries of many types, Limited Brands sold the Express chain to Golden Gate Capital in mid-2007.
Works Cited:
http://www.hoovers.com/express,-llc/--ID__105440--/free-co-profile.xhtml
http://www.1tshirtsworld.com/express-clothing-store.html
Friday, January 30, 2009
My Favorite Retailer
My Favorite Retailer and Five Reasons Why
Many thoughts and considerations go into choosing a favorite retail store. When considering what my favorite retailer is, I think about how the store makes me feel and does it offer the things I am interested in. With this in mind, my favorite retail store is Express. Express offers me many things; however, the top five reasons for my choosing Express is the line of clothes it offers (not only to women but also to men), the appearance of the store in general, the cost and promotions that it offers to its customers, the employee benefits, and the futuristic outlook that the company takes for themselves and for their customers.
When I look for clothes, I not only look for what is currently fashionable, but I am also interested in them being able to be worn for many various occasions. My first reason for choosing Express is because the clothing line is current with the trends of the fashion world. Their style ranges from casual to dressy and even fits everything in between including any needed accessories. Express not only provides this type fashion for women, but they meet fashion demands for the men as well. These styles include polos and sweaters to pants. With the economy the way it is, consumers need clothes that can go everywhere. Next, clothes must now meet the needs of the consumer at comparable price. Express offers their products at a reasonable cost and includes promotional coupons and discounts to help offset the cost of that of the customer. Although some may think their clothes are somewhat expensive, the durability must be considered. After all, you do get what you pay for and the consumer needs to consider how well the product will last when purchasing anything.
The Express store’s appearance presents itself to the public as attractive, eye-catching, and uniquely appealing. The window displays offer suggested styles with coordinating colors and suggestive accessories that the consumer looks for in retail. With their “commitment to put their customer and their products first” (Express.com), they are constantly changing, updating, looking for ways to meet the approval and business of the public. Today, I feel that is important with the competition in the apparel industry.
Express is my favorite because of their company plans for the future. An employee depends on the hopeful stability of their employer. They offer their employees a choice of financial needs that would best suit them. From health, to life, to medical, to a 401k, Express is a supportive employer. Express.com states that “we believe in offering high quality benefit products at a competitive price.”
Finally, for a retailer to be successful, they need to believe in themselves. I feel that this is very evident in Express and they have a very positive, futuristic outlook in the retail business world. They present a positive attitude, are consumer conscientious, and back their products. Their future looks encouraging to me because they “find inspiration and trends from all over the world and interpret them in a way that is uniquely Express.” They are “passionate about the journey that is fashion retail…committed to building a world-class, multi-channel retail brand that is recognized as a fashion authority”(http://www.express.com).
Works Cited:
http://www.express.com/custserv/careers.jsp?pageName=CorporateCategory#marketing(checkthisout)
http://www.express.com/custserv/about.jsp
Many thoughts and considerations go into choosing a favorite retail store. When considering what my favorite retailer is, I think about how the store makes me feel and does it offer the things I am interested in. With this in mind, my favorite retail store is Express. Express offers me many things; however, the top five reasons for my choosing Express is the line of clothes it offers (not only to women but also to men), the appearance of the store in general, the cost and promotions that it offers to its customers, the employee benefits, and the futuristic outlook that the company takes for themselves and for their customers.
When I look for clothes, I not only look for what is currently fashionable, but I am also interested in them being able to be worn for many various occasions. My first reason for choosing Express is because the clothing line is current with the trends of the fashion world. Their style ranges from casual to dressy and even fits everything in between including any needed accessories. Express not only provides this type fashion for women, but they meet fashion demands for the men as well. These styles include polos and sweaters to pants. With the economy the way it is, consumers need clothes that can go everywhere. Next, clothes must now meet the needs of the consumer at comparable price. Express offers their products at a reasonable cost and includes promotional coupons and discounts to help offset the cost of that of the customer. Although some may think their clothes are somewhat expensive, the durability must be considered. After all, you do get what you pay for and the consumer needs to consider how well the product will last when purchasing anything.
The Express store’s appearance presents itself to the public as attractive, eye-catching, and uniquely appealing. The window displays offer suggested styles with coordinating colors and suggestive accessories that the consumer looks for in retail. With their “commitment to put their customer and their products first” (Express.com), they are constantly changing, updating, looking for ways to meet the approval and business of the public. Today, I feel that is important with the competition in the apparel industry.
Express is my favorite because of their company plans for the future. An employee depends on the hopeful stability of their employer. They offer their employees a choice of financial needs that would best suit them. From health, to life, to medical, to a 401k, Express is a supportive employer. Express.com states that “we believe in offering high quality benefit products at a competitive price.”
Finally, for a retailer to be successful, they need to believe in themselves. I feel that this is very evident in Express and they have a very positive, futuristic outlook in the retail business world. They present a positive attitude, are consumer conscientious, and back their products. Their future looks encouraging to me because they “find inspiration and trends from all over the world and interpret them in a way that is uniquely Express.” They are “passionate about the journey that is fashion retail…committed to building a world-class, multi-channel retail brand that is recognized as a fashion authority”(http://www.express.com).
Works Cited:
http://www.express.com/custserv/careers.jsp?pageName=CorporateCategory#marketing(checkthisout)
http://www.express.com/custserv/about.jsp
Subscribe to:
Comments (Atom)