Who we are
Brand names for you, your family and your home for less. Every day. Our mission is to deliver great value on ever-changing selections of brand name and designer fashions at prices generally 20%-60% below department and specialty store regular retail prices on comparable merchandise, every day. We’re able to offer these great values because of our flexible business model, our strong vendor relationships and our opportunistic buying strategies. TJX is not an outlet store, but an off-price retailer. For us, value is a combination of fashion, brand, quality and price.
The Buy
Our stores are constantly changing as we offer a continual flow of fresh and rapidly changing merchandise. Each store receives several deliveries per week, with
…show more content…
These opportunities can include department store cancellations, a manufacturer making up too much product, or a closeout deal when a vendor wants to clear merchandise at the end of a season, as well as lots of other ways to bring you tremendous value.
How we do it
Our buyers are on the hunt throughout the year for the hottest brand name and designer fashions of the season for the entire family and home. We also buy from all kinds of vendors: big brand names to boutique, designer labels, as well as up-and-coming labels and one-of-a-kind gems. Our buyers are opportunistic and entrepreneurial. So when a designer overproduces or other stores overbuy, we swoop in, negotiate the lowest possible price, and pass the savings on!
Retailing includes all activities involved in selling goods or services directly to final consumers for personal, non-business use. A retailer or retail store is any business enterprise whose sales volume comes primarily from retailing.
Any organization selling to final consumers – whether a manufacturer, wholesaler or retailer- is doing retailing. It does not matter how the goods or services are sold (by person, mail, telephone, vending machine or internet) or where they are sold (in store, on the street, or in consumer's
Instead of the above letter, assume that at Pablo’s retirement dinner, the chairman of the board of directors of Xerxes Corps., in his speech, said “In view of the fact that you have been faithful to Xerxes Corp. for 30 years and have resisted efforts of our competitors to hire you away from us, the corporation promises to pay you a pension of $100,000 a year for life.” Pablo stood up and said, “I accept your pension promise with gratitude.” Is Xerxes Corps.’s promise enforceable by Pablo and if not, what would be necessary to make it enforceable? Explain.
The company’s pricing strategy is concentrated on anticipating and quickly responding to the changes on customers’ preferences to enhance a better product-line. By doing this so, American Eagle is always doing research about the changes in the economy and customers preferences, dictated by fashion and season. Its goal in this context is to get the correct merchandise due to it must be ordered well in advance of the selling season (p.9). The price of its clothes and accessories varies depending on the item and/or the clothing line that ranges from affordable to a bit expensive. This company also provides coupons. discount codes, and deals that lets the company to attract more customers. For instance, at the end of seasons, when American Eagle
Although there is much competition out there, Ross is different from other retail stores. The reason for this is that Ross acquires most of their merchandise comes from their competitors, such as name brand department stores who ordered too much of an item and have decided not to sell it anymore. The overstock then results in in a loss of money for this company which in turn becomes a gain for Ross since the items are sold to Ross at a low price. By following these actions constantly, this is then the way that Ross has great prices for the name brand products sold at the location.
Provides a unique atmosphere - Their large open stores, packed with designer brands, gives an elegant feeling, with light colored walls that can’t be found at your local drug store. Also, with a low-pressure sales strategy they provide a very relaxed shopping experience.
Their costumer will usually buy in high volume, and that they see best values through deals and
T.J. Maxx is an off price retailer, or a retailer who sells high quality goods at low prices. Being an off price retailer allows them to sell goods quicker because the
CSX Corporation is amongst the leading transportation suppliers within the nation. The Intermodal and Rail business of the company avail rail-based services that included traditional rail service and intermodal trailers and containers transport (CSX Cooperation, n.d). The transportation network of the company comprises of approximately twenty-one thousand track route miles covering, District of Columbia and Provinces of Quebec and Ontario in Canada.
Maxx benefits from chaos by picking up the pieces, merchandise at a discount, when other retail stores close, or have overruns, or unexpected changes in demand and in return pass these savings on to their customers who shop for value (Levine-Weinberg, 2016) This is the demand-side benefits of scale when the consumer rather pay less for name brand merchandise than to pay more for the same designer in the department store. The stores that where having difficulty in the retail market left themselves vulnerable by not defending their position and T.J. Maxx proactively attacks this opportunity with its purchasing power and passes the savings to its customers. This proactive process of attacking and defending is what Wee (2016) calls the holistic and balanced perspective of handling competition. Moreover, this business warfare strategy of attacking struggling competitors is called offensive marketing warfare strategy (Grewal, 2014).
Price: They have pricing strategy for different group of consumer. The price of their shoes varies depending on the type of the shoes, the feature of the shoes, and even design and edition matter. The shoes can be price at a standard price where most customers can afford. Yet some special feature shoes are specially design and created for premium customer who can afford to pay a higher price. For this reason they can capture different group and level of customer.
The ecommerce industry is growing faster than ever. TJ Maxx needs to start focusing more on ecommerce not only to keep up with competition, but also to make sure they do well during weak economic periods. ecommerce, overall, tends to do very well during lackluster economic times. TJ Maxx will be able to cut costs more easily the more they expand their ecommerce business. Our business idea will allow them to expand their ecommerce as we will take over their website and delivery. TJX Companies’ three ecommerce sites accounts for only about 1.0% of the company’s total sales. However, the online channel is a key growth driver and TJX is taking initiatives to improve its online business. The ecommerce sales
Macy’s is a brand that has built a name for itself. It offers a variety throughout its customers and company. It is a brand that I like because it is found throughout many states. Macy’s offers a variety of categories such as clothing, handbags, shoes, and jewelry. It is easy to find online and at local stores. It offers great promotions and sales throughout the year. Also, Macy’s guarantees great quality within its merchandise. It is a brand that reaches outs to its customers in several ways. Macy’s makes sure that the customers can shop online and pick up at a local store or shop at local stores. Macy’s is also a brand that offers discounts to its fellow customers and use this as an attraction to its clients.
Levy, Michael, Barton A. Weitz, and Dhruv Grewal. Retailing Management. ed. New York, NY: McGraw-Hill Education, 2014. Print.
The company I chose to explore is TJ Maxx. I choose TJ Maxx because they are one of my favorite stores where I can find brand name products at an affordable price. The TJX Companies, Inc. have been in the business industry for 36 years. TJ Maxx started in 1919 when Brothers Max and Morris Feldberg founded New England Trading Company in Boston, Massachusetts and opened the first retail store in 1929, dedicated to selling women hosiery. Two decades later, that one store grown into a whole chain of women's apparel stores that overextended from New England to Washington D.C. In the mid 70’s T.J. Maxx was born and grew into what is known today as the TJX Companies, Inc., which is the leading off-price retailer of apparel and home fashions in the United States and worldwide.
Although there will not be the ‘exclusivity’ appeal as many copies of an item of clothing is made, the price reduction will attract customers making them strong competitors in the market. Based on the primary resource found, the surveys depicted that majority (7 out of 13 volunteers) found Mr Price to have low prices and high quality items. When asked about Mr Prices strengths 8 out of 13 (61.5%) indicated that affordable clothing was a strength and is the reason they shop there. 3 out of 13 (23.1%) said they were easily
The nature of the business of retailing puts retailers at a assumed risk of incurring costs because products are bought with the assumption that consumers will purchase. Additionally there are external factors that may also pose risks such as natural disasters, theft, spoilage and fire. In other circumstances retailers also extends financial credit to customers in the form of credit sales which facilitates the smooth transition from retailers to the marketplace. Retailers are in constant contact with customers which gives them the opportunity to research and study buyer’s behaviour. This involves collecting information about changes in customer preferences, perception and shifts in the demand curve. Through advertising within their stores retailers are able to exhibit and introduce existing and new products to the marketplace. Ultimately retailers are in the business of selling products to customers to achieve their goals of generating