Effects of a New Store On The Community
When the new store opens it might have an effect on the community.
This effect could be a benefit or a cost to the community.
Benefits - 1) When the new store opens, they will have to pay rates to
the council for such things as rent. These rates might be used by the
local council to improve the local services. The local services that
could be improved include education, NHS and other council funded
services.
2) As well as this, when the store opens and customers start to visit
the store, the local economy will benefit. The local economy will
benefit because the new store will bring in money for people who have
jobs in the new store. It will also benefit because the new store will
bring in customers for other shops, so these shops will benefit from
this.
3) When the new store is been built, the building work will help to
benefit the community. It will benefit the community because after the
building work is complete the building will be modern. This helps to
improve the infrastructure of the town.
4) Another way the new store will help to benefit the community is
that it will bring more competition between other mobile phone stores.
This will help the community because it means all of the mobile phone
stores will be competing against each other to win the customers. When
they are competing against each other they will lower their prices to
win customers, so there will be a price war between the shops and the
community will benefit.
Other ways the community could benefit from this new store opening
are: there will be a wider range of goods in the shops, there will be
new jobs available and it will increase the reputation of the town.
Costs - 1) When a new store opens it can lead to prices of rent
becoming higher. Sometimes the prices rise so much local business' can
close down because they cannot afford these costs.
1.To increase prices according to 4th scenario (total line price increase by 5%) and from short-term revenues income use resources for advertising.
will have to make sure that they get enough profit to be able to open
This increase in demand leads to an increase in the cost of rents in the
o The franchisee would have the opportunity to build a production facility if ICEDELIGHTS was unable to provide the product to the new stores
They also have an in-store reasonably priced restaurant to get customers to stay there longer.
Walgreens faces intense competition from local, regional, and national drug stores along with independent drugstores. Recently WalMart has also made a push in its pharmacy, further increasing competition. In order to remain competitive Walgreens must evaluate its pricing structure to remain competitive. Failure to change prices will drive away customers and decrease revenue. This method is risk financing is key for their survival in the industry. Walgreens operates on seasonal nature, especially during the holiday and flu seasons. While the store bulks up on seasonal inventory adverse events such as weather, the economy, and gas prices could limit traffic into the store. In order to combat that Walgreens can implement a risk control system that routinely tracks foot traffic into the store to determine in the flow of customers and tracking their spending patterns. This method falls into the third potential loss, failure to meet customer needs, which can affect sales. For Walgreens to be successful its customers must be offered the best shopping experience. Which involves an assortment of merchandise that is attractive. While it is increasingly difficult to track spending patterns, Walgreens must use the risk control method of tracking patterns. Through industry research, Walgreens can determine purchasing habits and
The advice offers relevant insights for convenience retailers, in light of sharply rising direct store operating expenses (DSOE), a primary industry “watch out” cited at last year’s State of the Industry Summit (SOI) in Chicago. Encompassing wages, payroll taxes, healthcare insurance, card fees, utilities, repairs and supplies, the category is growing quickly and on pace to surpass swipe fees.
The first priority is to decide which store to purchase and their lower priority whether to invest the two million up front to renovate the stores or to operate the store as is.
This is a point that rings very true. Store development is important, but there are other key features that need to be considered for continued growth
Some examples of the internal weaknesses of Gator Town is that some merchandise and clothing can be too expensive for students who are unemployed or earn minimum wage. This can only leave those students to purchase only the snacks and drinks that are inexpensive. Additionally, not many people can go into Gator Town at the same time. That is because the size of the store is too small. This is another internal weakness because if over 10 students are in the store at the same time, it will get overcrowded. The top three external opportunities are the opportunity to incorporate a website for the store, advertise, and extend the variety of clothes by adding sweatshirts. Almost all businesses today such as Nike and Kohl's have a store website where customers can look to shop, find informations, and provides additional avenues for sales. Since Gator Town currently does not have a store website, it would be a big opportunity if the store incorporate one. This will allow students to find informations such as school hours and look at the merchandises online. Having an online website is very beneficial because the internet has become a key resource
Gentrification itself is a big business. With the money that the investors give in to the gentrifying neighborhood, they are able to build and bring in various chain stores and big companies. People in the neighborhood will then have a lot more choices. Besides the options that those companies provide, they also provide a better and more secure environment for the surrounding residents. The renewal of the city will allow residents to have a better living environment. The investors try their best to renovate the area and switch old buildings into condominiums or luxury housing for purchase, which means that people need to have certain amount of money in order to buy or rent those houses. First, the increase in chain stores provides middle and upper class people to have more choices among daily needs. Even though the chain stores will take away some of the culture experiences that only the local popshops can provide, the chain stores are still definitely better due to its convenience and the size of the company. One of the reasons that people choose big chain stores and not small shops is that people feel more comfortable and familiar with shopping in chain stores. Furthermore, not only the shops are replaced, but public utilities are also
New entrants to an industry, with a desire to gain market share, will put pressure on prices, costs and capital needed to compete. It can affect the profit potential.
When people think of predatory pricing, two main laws come to the minds of most...
According to “The Mall Phenomenon” the average person spends $330.82 in a mall that is an increase from past years where the average was $316.80. Also, according to “The Mall Phenomenon” people will on average visit the mall 3.4 times per month and stay 1 hour and 24 minutes in the mall. People tend to go to stores and spend time and money as a stress reliever which can help and also hurt you. In this essay, I will be telling you about the “Grand Mall Seizure” also I will be telling you about the “Champagne Taste, Beer Budget.” The other thing I will be talking about in this essay is what mall/stores I spend most of my time and money in.
Dunnes Stores is an indigenous, family owned Irish Company. The Company is a retailer in both the food and textile market who work around the principle of providing competitive prices, high quality products and a vast variety of choices. The company’s motto of “Better Value” looks to draw in all these principles together.