History and Inception. 1964-1969 The METRO Cash & Carry (MCC) company was established in 1964. In that year, the first full scale METRO Cash & Carry wholesale store opened in Mülheim an der Ruhr with selling space of 14,000 square metres. That was a new dimension in food and non-food wholesale. The MCC company was founded by the two brothers Wilhelm Schmidt-Ruthenbeck and Erwin Schmidt as well as the Schell family, owner of a wholesale company for electrical appliances. Soon, Otto Beisheim was nominated as the managing director of METRO-SB-Großmärkte GmbH & Co. KG. The revolutionary cash-and-carry concept proved to be a hit among professional customers. Within just a few years, other wholesale stores were opened in Berlin (1966), Cologne-Godorf, Hamburg, Munich and Düsseldorf (1967). METRO's direct-mail system was revolutionary for that time: Customers received weekly advertising materials that were personally addressed to them. …show more content…
1970-1979 The first MAKRO store was opened in Belgium. At the time, the wholesaler was already operating 13 METRO stores in Germany. Today, the MAKRO store network is well developed: in Belgium, no customer is more than 30 minutes away from a MAKRO store. METRO opened stores in Great Britain, France, Austria and Denmark – some under the MAKRO brand name. By opening several stores in Spain and Italy, the self-service wholesaler expanded to the Mediterranean region. METRO Cash & Carry acquired a minority of 24.9 percent of shares of Kaufhof Warenhaus AG. The same year, the department store Kaufhof AG celebrated its 100th anniversary.
With minimal aid from interviews with managers and no exposure to the marketing entity of the company, I was able to accomplish much of my findings related to the macro environment of Kohl’s through diligent online research. One of the major changes occurring in the retail industry is online shopping. Substitutes such as Amazon, eBay, and other online retailers are replacing the technically savvy shoppers from ever having to enter a store. Kohl’s competes with these outlets by remaining on the cutting edge of integrated technology to enhance the customer experience shopping their brand. They are currently testing multi-function tablets in jewelry and beauty departments that can be used to demonstrate
After co-branding the Macy’s name with local Federated stores in 2003, the Macy’s division became the central focus for revamping. Federated descri...
When brothers Sidney and Stanley Goldstein partnered with Ralph Hoagland in Lowell Massachusetts in 1963, they were unaware of the nationwide impact that CVS would have on the retail drug industry today. Just six years after establishment, Goldstein and Hoagland sold to Melville Corporation and began acquiring companies including Revco, Prescription Health Services, People’s Drug and Eckerd Health Services. This led to an increase in sales reaching one billion dollars in 1985 as well set the bar for all pharmaceutical companies within the United States.
Over one hundred years ago, an entrepreneur named Sebastian Spering Kresge opens his first retail store in 1899. The store was named Five-and-Dime and was located in downtown Detroit. The store was named Five-and-Dime because everything in the store was priced at either five cents or ten cents. This low price gained him a lot of customers and a lot of publicity. With this new found publicity, in 1912, he opened 85 more stores with annual sales of $10 million. As time went on, the prices have changed to $1 or less, but the business philosophy has remained the same. Around this time, the retail environment was getting very competitive, and the company needed to make some changes to keep up. In 1959, Kresge hired Harry B. Cunningham to become the president of the company. Under Cunningham leadership, the first Kmart store was opened in 1962 in Garden City, Michigan. In 1966, sales in 162 Kmart stores and Kresge stores topped the $1 billion mark and in 1968, the S. S. Kresge aired its first T.V. commercial. In 1976, Kresge made history by opening 271 Kmart stores in 1 year and becoming the first ever retailer to launch 17 million square feet of sales space in a single year. By 1977, nearly 95% of the S. S. Kresge sales were generated by Kmart so the company officially decided to change its name to Kmart Corporations. In 1991, Kmart opened the first supercenter in Medina, Ohio offering a full-service grocery area. In 1996, a complete redesign of Kmart was launched, changing its name to Big Kmart [or BigK] and in 1999, Kmart launch a new internet presence, named bluelight.com [now known as kmart.com]. In 2002, Kmart filed for Chapter 11 bankruptcy protection. (Corpor...
The purpose of this paper is to analyze and discuss the effectiveness of the Target Stores supply chain. Target was founded in 1902 by George Draper Dayton who after partnering with the owner of Goodfellow Dry Goods Company for a year decided he wanted to have more involvement, so he purchased Goodfellows renaming it Dayton Dry Goods Company. After purchasing the store Mr. Dayton remained in management until the time of his death in 1938. By this time the store had seen many changes including a name change in 1911 changing from Dayton Dry Goods Company to The Dayton Company, as well as an addition of the Dayton Foundation in 1918. After Mr. Dayton’s death the family continued managing the business until 1983 in which the last two managing Dayton’s retired, ending 80 years of the Dayton’s family management (Target Corporation, 2014).
The supermarkets as we know them today were in the beginning regional and local chains rolling out stores in 1950, exploiting trends and a mixture of acquisition and development of new stores. By 1970 the saturation and recession had supermarkets turn to new formats to increase profit, this is how the club stores were introduced (Price Club 76, Costco 83, Sam’s 83). This is also when Whole Foods Market came in to the picture in 1980 as a natural food store.
The Target Corporation formerly known as “The Dayton Dry Goods Company” is a major retailing company that was founded in 1902 in Minneapolis, Minnesota by George Draper Dayton. It is ranked the second largest discount retailer in the United States and ranked thirty- sixth on the Fortune 500 as of 2013. The Target Corporation has been serving this nation with the best price possible goods since their expansion from “Dayton” and is continuously winning the hearts of consumers with their dedication and service. A phenomenal merchandising strategy and cross channeling has enabled this upscale discounter to serve their purpose of customer loyalty and fulfill their promise of “Expect more and Pay less”.
The strategy of WFM, co founder Mackey, is to continue offering healthier options for its customers. The movement into Canada and the UK in the last few years, lays the footprint for additional global expansion. Mackey intends to increase WFM to 1000 stores. The question is whether it will happen through acquisitions or new store locations. The answer based on their history is a combination of both. The store in Canada opened in 2002. Since brand recognition is not as strong, the store struggled somewhat in the beginning; however, the expectation is that it will grow to one billion in the next ten years (Patton, 2013). The stores in UK, which are in the greater London area, have received mixed receptions, and some stores are selling well while other locations are not. However, Mackey is not deterred and believes that longevity will produce the desired results.
A1: Dollar General's main business strategy is to focus on being the leading distributors of consumable basics, with 30% of the merchandise at $1.00 or less. Dollar General believes in maintaining an assortment of consumable merchandise and making shopping for everyday items hassle free and simplistic.
Kroger was also an inventor, of food products. What was born in his mother’s kitchen, of just a tangy German sauerkraut has grown into over 30 facilities that manufacture the Kroger brand. Just another example this company meeting its objective to serve and please its customer base. Kroger understood from the very beginning, the value of the customer base, which according to the text Managing Customer Relationships is simply put, is to get, keep, and grow customers and is the very objective of the Kroger brand. Mr. Kroger was a natural born leader and servant and built this concept into the very framework of the company. Every step he took, focused on this premise, and soon he built a successful model that many other merchants fervently attempted to duplicate. The modern supermarket owes it roots to this early adventure in
On July, 2nd 1962, Sam Walton realized a dream when he opened the first Walmart location in Rogers, Arkansas (Rowell, 2016). The concept behind the store was simple, “The Lowest Prices Anytime, Anywhere” (“Our History”, 2016). Within the first ten years of opening its first location, Walmart had become an incorporated company, opened 23 additional locations, and was publicly traded on the NYSE (“Our History,” 2016).
C & C grocery store currently operates under a goal approach. They were committed to customer service and satisfaction. This approach provided the grocery chain with the profitability and growth they strived to obtain. The stores operative goals were attained and the chain had over 200 stores in operation. For years overall performance for C & C was excellent and came with ease. Unfortunately employee development and innovation and change weren't a top priority and it began to show. To remain successful C & C had to outsource and get advice from a team of consultants. The team dissected the company from top to bottom and advised the chain to implement an internal approach to go along with the goal approach. Implementing the internal approach will give the store managers full control of their stores which they do not currently possess. The store managers should be knowledgeable in all areas of the store to be able to fully communicate with staff. It was difficult for the district managers to give each store location the time and attention they needed when they were responsible for several other stores. Giving store managers more responsibility was a terrific idea of the consultants because the store managers have more day to day customer and employee interaction and could better assist needs. C & C was in desperate need of providing employee training and development. Cross training is beneficial for company as well as employees. Employees get the opportunity to learn other job positions and have the ability for advancement opportunities within the company. The company benefits from cross training because it provides flexibility if a store is short staffed, and it provides empowerment. A store full of happy employees from mana...
Around the world they have 3,100 stores. Most of the stores are in Germany, United Kingdom, United States, France, Spain, and Sweden. The stores are in every continent.
Over time, it grew into the retail giant we know today as Target Corporation. The first Target store opened in Roseville, Minnesota, in 1962. From then on, Target expanded nationwide, with thousands of stores across the United States. Target consistntly distinguished itself as a top shopping destination worldwide. They excelled at welcoming customers from the moment they walked in. The atmosphere, friendly service, and quality products made the experience enjoyable. Target made customers
Subsidiaries include Sears, Roebuck and Co., Kmart, KCD IP, Shop Your Way, and MetaScale among others.