Essay On The Retail Sector

2413 Words5 Pages
bulb-icon

Recommended: History of retailing in india

1. Retail Sector
a. The retail industry is as old as human civilizations, and it’s worth noting the retail sector is much better geared to change than most sectors. Over the past couple of decades there has been a wide range of changes in the retailing business. The retail sector dates back to the early 1800’s when the first local corner store sold common household items and basic groceries. As its name states, the corner store was just that, stores strategically placed on corners on high foot traffic areas for easy access. As society started to grow so did the need for new consumer goods and how a consumer would reach those goods. Department stores became popular simply because they were able to offer an assortment of categories and a variety of items within those categories all under one roof. The first two cities to start developing large scale department stores were New York City, and Chicago. In New York in 1846, the first building was built offering a variety of goods at fixed prices that were shipped from Europe. Department stores moved away from the idea of bartering and all items sold were considered fixed. However, department stores did offer discounts and coupons as a way to get customers in the door. In 1862, the largest department store was built during this time in New York City. The department store was on a full city block with eight floors and nineteen departments of dress goods, furnishing materials, carpets, fine china, toys and sports equipment. All these items were arranged around a central glass-covered court. The glass windows quickly became a staple in the department stores design. The act of window shopping was introduced and quickly all department stores had floor to ceiling windows advertising the newes...

... middle of paper ...

...T Analysis JC Penny
i. Strength
1. Products: JC Penny’s is known for their brand recognition
2. Place: established locations nation wide
3. Price: Focus on low cost
4. Promotion: rewards program ii. Weakness
1. Changing in business strategies
2. Lack of coupons iii. Opportunity
1. Exploring niche markets iv. Threat
1. Consumer spending habits
c. One aspect JC Penny has done well at is established a strong brand awareness.

6. Recommendations

I would recommend Kohl’s to continue to focus on their Omni-channel retailing. This market is rapidly evolving and consumers are becoming increasingly technologically savvy. Computers, mobile phones, tablets and other similar devices are progressively becoming a more important aspect of the shopping experience. Additionally, the Internet and other new technologies facilitate competitive entry and comparison shopping.

Show More
Related

  • What Is The Difference Between Kohl's Pricing Strategy And Retail Strategy

    699 Words  | 2 Pages

    Kohl’s also boasts a loyal customer base and strong brand equity. These strengths are critical to offset their weaknesses. Flaws include an imbalance on sales for men’s products and a lacking online presence. (Kohl's Corporation, n.d.) Another way that Kohl’s is actively counterbalancing their negatives is by capitalizing on opportunities. Kohl’s has found that their beauty sections are an immense source of opportunity. As a result, the company is expanding those departments in an effort to capture those sales that would otherwise go elsewhere. (Wahba, 2014) Finally, Kohl’s keeps the knowledge of their threats at the forefront of their decision-making. They understand that their coupon system can be abused and cause profit losses. They also recognize that price wars in their industry can also be very damaging. As a result, they are working towards more secure methods of offering savings and strategically making efforts to remain the leader for price setting. (Wahba,

    Read More

  • Analysis of Express

    997 Words  | 2 Pages

    Levy, Michael, Barton A. Weitz, and Dhruv Grewal. Retailing Management. ed. New York, NY: McGraw-Hill Education, 2014. Print.

    Read More

  • Kohl's Marketing Environments: The Macro Environment

    1628 Words  | 4 Pages

    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

    Read More

  • Federated Department Stores

    2130 Words  | 5 Pages

    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...

    Read More

  • Retailing Strategy: Nordstrom's Retail Positioning Strategy

    807 Words  | 2 Pages

    Nordstrom retail stores have large hallways, and everything is presented in a very classy manner. The color scheme includes pale yellows, whites, and gold, to provide a more elegant appearance in the store in order to make the shopped feel special. The design is also seen through product organization. Compared to stores like Macy’s, which organize their products based on brand, Nordstrom organizes their products based on lifestyle. Because of this, it is easier for shoppers to find clothes similar to their style as opposed to by brand. In effect, shoppers will purchase more products. This also is a type of experiential retailing, where Nordstrom customers are able to experience the elements of their lifestyle within one section. More so, the product presentation will draw people’s eyes to products, even if they are not looking for it. This gives Nordstrom a competitive advantage in relation to other similar retail stores because it makes their store look more glamorous and high-end. While other stores may focus on value, Nordstrom utilizes the retail positioning strategy to make a customer feel more high-end and

    Read More

  • History of the American Department Stores

    3093 Words  | 7 Pages

    Over the years, the American department store has developed and evolved as not only a commercial business but also a cultural institution. While it has weathered many storms and changes since its inception and throughout history, its most predominant enemy has been a change in the lifestyle of the American people (Whitaker, 2013). As the customer’s needs and wants have shifted, department stores have struggled to keep up with demands. It has been argued that the decline of the department store has been ongoing for the last 50 years (Whitaker, 2013). This dissertation aims to understand how the department store has historically played a role in consumer culture and spending, and additionally, how this has evolved and changed in today’s retail market. Although department stores may not be able to take all the credit for inventing modern shopping, they certainly made its conventions and conveniences commonplace. They set a new standard for the way the consumer should expect to be treated, the type of services that should be provided, and the convenience that should attend the process of acquiring the necessities and niceties of life all in one place. They made shopping into a leisure pastime. This environment meant shopping was a means of freedom to look around, pick up objects with no obligations to buy. As one historian remarked, department stores: “encouraged a perception of the building as a public place, where consumption itself was almost incidental to the delights of a sheltered promenade in a densely crowded, middle-class urban space” (Whitaker, 2006). Although this perception and view of the department store has changed over the years, this paper aims to follow the trail of how and why that happened.

    Read More

  • Retail Nation Summary

    1034 Words  | 3 Pages

    The development of department stores in Canada gave way to a new modern era of Canadian society. Through the development of mass retail in 1890 and 1940, Canada experienced a spur in the retail industry as large stores such as Eaton’s, Simpson’s and HBC emerged. Donica Belisle's book “Retail Nation: Department Stores and the Making of Modern Canada”, is useful to understand the expansion of the retail industry as it examines department stores activities along with the responses of consumers, employees, governments and critics to gain insights on the evolution of consumer capitalism in Canada through a feminist perspective. In this essay, I will give a brief summary of the book as well as a review based on my opinions of the book and author.

    Read More

  • T Eaton's Case Study

    553 Words  | 2 Pages

    The industrial revolution changed all that. During the mid-nineteenth century produced conditions which allowed the retail industry to flourish. It was this expansion, however, which prompted divergence in the development the retailing environments in Canada. The industrialization process required concentrations of large numbers of individuals in single geographic areas (cities) and the development of intra-city transportation systems (such as trolleys and bicycles) to transport individuals to the newly formed factories (and subsequently, to large retailers). Furthermore, a direct outgrowth of the industrialization process was the growth in discretionary income which became available to a large percentage of the population. As the result of the industrial revolution, the social and economic environments of affected areas became ripe for the development of large new retailing enterprises, such as the department store. Timothy Eaton recognized this void, and was the first to introduce the department store concept to Canada. Basically, a department store was an entire building that was structured for the purpose of shopping by selling items such as food products,

    Read More

  • A Picture is Worth A Thousand Words

    1531 Words  | 4 Pages

    ...tion, department stores were, and still are, places where consumers are an audience to be entertained by commodities, where selling is mingled with amusement, where arousal of free-floating desire is as important as immediate purchase of particular items” (Williams 2007, 172).

    Read More

  • The Negative Effects Of Retail

    974 Words  | 2 Pages

    Who doesn’t love shopping? Not many people would answer that question in a negative way. We all love to get new clothes and take the tag off before wearing it. However, being a customer and working in the store are two completely different experiences. Retail may seem like a luxury job with the idea of getting an employee discount, but nobody tells you how much pressure one may experience, the people you encounter, or the cleaning of the store that is involved.

    Read More

  • Essay On Visual Merchandising

    1152 Words  | 3 Pages

    ... concept is inadequate. The concept according to majority of retailers is just dressing a window, or just an unnecessary expenditure. The competitors’ today have an astonishing retail design stock and will have to compete purely on master merchandising and the technological edge.

    Read More

  • Essay On Fashion Boutique

    730 Words  | 2 Pages

    While growing up, I realized the benefits a person has when they personally own their own business. You can make your own schedule, personally control your finances, and essentially have complete control of your business Of course upon this realization; I came to the conclusion that I was going to be my own boss. I have always taken pride in how I present myself including how I dress. The limitless nature of fashion and its versatility has always intrigued me. One empowering aspect of clothing that is so fascinating is how it enables people to express themselves. Because of these interests, I have come to the conclusion that I wish to own a fashion boutique. In order to pursuit the path of becoming a fashion boutique owner, it is essential that I obtain a degree in business management, evaluate my own skills that make me ideal for the job, and

    Read More

  • The Death Of Shopping Malls In America

    719 Words  | 2 Pages

    The fall of Shopping Malls A mall used to be a staple in American suburban communities, but is the rise of online retailing to blame for the death of shopping centers around America? Malls are shutting down across the nation; analysts estimating that 1 out of every 4 malls will close their doors for good in by the year 2022 (“The Death and Life,” 42). More than 8,600 stores have closed down this year alone from lack of business circulation and many businesses are close to the same fatality. There has been an immense decline in retail jobs; an industry that gave so many opportunities is now struggling to keep employees.

    Read More

  • Descriptive Essay About Shopping

    749 Words  | 2 Pages

    Shopping is something that has to be done whether you enjoy it or not to get essentials needed. We all go places where merchandize is being sold for a specific reason. Whether you go to the mall, shopping centers, or your local grocery store, you 'll always encounter many types of shoppers. Shopping isn’t always as fun as it sounds to everyone, but it is something we often do. This is the only way we get products we need, by personally buying them. You have three main shoppers including impulse buyers, list makers, and bargain hunters.

    Read More

  • The History Of Shopping Malls

    842 Words  | 2 Pages

    Before the creation of shopping malls was ever envisioned, there were shopping centers. “A group of commercial establishments planned, developed, owned, and managed as a unit related in location, size, and type of shops to the trade area the unit serves; it provides on-site parking in definite relationship to the types and sizes of stores” (Carlson 13). “Shopping centers were built to cater to families migrating to suburban areas” (Carlson 13). Although shopping centers accommodated local family needs, they lacked the ability to guarantee a "perfect" shopping day for customers. Not being able to deliver a "perfect" shopping day, every day sparked the thought and development of shopping malls. Shopping malls are

    Read More

More about Essay On The Retail Sector

Open Document