Introduction The retail industry, by far, is one of the most pragmatic and impulsive markets in which a business may participate. Its business trends are at the mercy of current fashion trends and consumer demand. An organization can be the leader in the fashion arena one day and a loss leader in profitability and ingenuity the next. Retailers must provide quality products and services matched with a quality shopping experience and an emphasis on value to succeed in the long run (Bawa, Gupta, Sharma, 2013, p. 37). Retailers also must ensure their internal procedures and practices efficient and effective. This can help to create a business environment that promotes the best interests of the organization as well as its employees. It is this need for efficiency that drives the profitability and the strength of an organization. Businesses must be able to make a critical analysis of their current procedures so that they can identify current strengths and minimize weaknesses (Jones, 2012, p. 4). Increasing competition and volatility challenge the ability of such entities to maximize revenue and achieve profitable levels. Studies have been conducted on the effect of human-related environmental factors on the consumer and the results are important to note. A study conducted in 2012 attempted to identify this relationship and the results showed that human-related environmental factors have a significant impact on the perceptions of the store location as well as the perceived behaviors within the company structure (Kim & Kim, 2012, p. 839). The study also put focus on the need for managers from within these environments to manage this influence as much as possible so that such factors can be minimized. It is because of these ... ... middle of paper ... ...d from http://www.environment.nsw.gov.au/community/edproject/section404.htm. Gulliksen, Christian (2012). Four Typical Weaknesses of Case Studies. Retrieved from http://www.marketingprofs.com/pics/2012/7873/four-typical-weaknesses-of-case-studies-slide-show. Jones, M. M. (2012). A spiritually based leadership approach in the retail environment to assist with the challenges of employee morale and retention. Journal of Business & Retail Management Research, 7(1), 1-11. Kim, J. E. & Kim, J. (2012). Human factors in retail environments: A review. International Journal of Retail & Distribution Management, 40(11), 818-841. doi:10.1108/09590551211267593 Velez, A. M. (2013). Evaluating research methods: Assumptions, strengths, and weaknesses of three educational research paradigms. Davenport University. Retrieved from http://www.unco.edu/ae-extra/2008/9/velez.html.
The retail stores of JC Penney and Sears have face headlines of “Which is Worst: JCP or Sears?” The end maybe near for both companies (Andersen2014). The customers look at the employees like their idiots. The public believes that poor management is the reason for the down fall of these companies. Eddie Lambert and Ron Johnson are the CEO’s of being credited to running these companies with wrong management strategies (Andersen 2014). Ron Johnson who is now the former CEO was highly qualified with his retail instincts tried to run the store like a retail boutique. He never took the time to consult a survey on what the consumer’s thought were and after two years he jeopardized the company (Andersen 2014). Whereas the CEO Eddie Lambert of Sears
One of SHLD’s weaknesses is an upper management team who lacks knowledge of the retail sector and fails to communicate effectively across business units. A second weakness is the de...
Paco Underhill has created a way for stores to draw more customers in and spend more money by getting in the mind of the customers. I found some of Underhill’s theories to be true. Underhill’s theories have helped provide research of the actions of consumers inside of American Eagle, Meijer and Hollister, these theories include, the need for shoppers to acclimate to their surroundings, the way customers turn into stores, and by placing most used products in the farthest places away from the
Cohen, L., Morrison, K. and Manion, L. (2011) Research Methods in Education. 7th ed. London: Routledge.
Drew, C. J., Hardman, M. L., & Hosp, J. L. (2008). Designing and conducting research in education. Thousand Oaks, California: Sage Publications, Inc.
In the article, ”How Nordstrom built the world’s best customer-service machine”, Toller(2015), states the core reasons as to why it is successful in what it does aside customer service. Focusing on things that help a company achieve their goals is crucial. In this case, recognising how relevant employee empowerment is to a company is one of the top reasons as to why Nordstrom is seen as an upscale fashion retail company that is incredibly out performing other retail industries. Use of good judgement demonstrates this. Being able to identify its competitive advantage is the central reason why Nordstrom owns a high ranking. Treating customers with the highest quality hands ever is what it greatly appreciates and values.”Nordstrom
1) For a channel to succeed four location decision factors are considered; economic conditions, competition, the strategic fit, and the cost of operations. Stores need ...
Satterlee Anita. (2013), Organizational Management and Leadership: A Christian Perspective. 2Ed. Synergistics International Inc. Raleigh, NC
“Nothing in a grocery store is where it is by accident. Every item on a shelf has been planned” (Paco Underhill). In the articles, “The Science of Shopping” by Malcolm Gladwell and “How Target Knows What You Want Before You Do” by Charles Duhigg, these authors exemplify effective marketing strategies which were composed by Paco Underhill and Andrew Pole. Underhill is an environmental psychologist; additionally he employs the basic idea that one’s surroundings influences ones behavior and invented structuring man-made environments to make them conducive to retail purposes. Pole was a statistician and revolved his entire life around using data to understand
Consumers tend to be more demanding and more arbitrary, so use appropriate strategy will be critical to all fast fashion retailers.
Even the slowdown in current global economies could not bring retail sector down as retailers keep seeking for opportunities overseas to avoid challenging economic condition, which make this sector becoming more globalised and competitive. As an heir of an industrial components retailer, I also believe there are bountiful opportunities to grow in this emerging industry. But without deeply and truly understanding in every aspect of retailing, one could not survive in the battle. For this reason, I would like to pursue my education further by studying Master in retail management to obtain knowledge in retailing and hopefully become successful in the field.
There are many things that can happen when one wants to go out shopping. Some of those things can sometimes influence the way that shopping experience goes. In this short essay, situational influences are defined and described with clear examples. Furthermore, the psychological influences that one may have are also discussed. Lastly, it is important for one to understand how these types of influences work through a personal example.
The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. It accounts for over 10 per cent of the country’s Gross Domestic Product (GDP) and around 8 per cent of the employment. India is the world’s fifth-largest global destination in the retail space.
... 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.
People are always going to go shopping. A lot of our effort is just: 'How do we make the retail experience a great one? '” - Philip Green