"The average outlet shopper spend over two hours at the outlet mall (60 percent longer than at regional miles malls), and the average expenditure per outlet visit per shopper is 79 percent higher than at regional malls” (Couglan and Soberman, 6-7). Retailing dates back all the way back to 6,000 BC, when it was known as the bartering system. It was introduced by
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Mesopotamia tribes, and then adopted by Phoenicians. During this time, money was not yet invented so people would trade goods. When money was invented, bartering slowly transitioned to retailing (Anderson, 1). The concept of outlet stores dates back to over a hundred years ago. Clothing companies first created the idea to offer excess or damage goods to employees at the price discounts. The factory stores then later starting selling to non employees as well. In 1936, Anderson- little (a men's clothing manufacturer) opened to be the first set outlet stores, which were located far from the primary retail stores. This outlet store was for anyone who was looking to purchase goods at a discount (Couglan and Soberman, 4). In today's modern age, outlet stores are now using the concept of getting excess good at a price discount, against the customers. Customer shop at the outlet stores because they are known for a way to save money. Outlets stores are using retail prices for some of their merchandise fully aware that the customers shop at these outlet stores to get discounted prices not retail prices. Retail stores are better to shop at than outlet stores because of the location of the store, quality of their merchandise, and their consistency on keeping up with trends.
Retail stores are better than outlet stores to shop at because of the location of the store. Theo Estes...
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Anderson, Kelly. "Barter System History: The Past and Present." Barter System History The Past and Present. N.p., n.d. Web. 16 Apr. 2014.
Couglan, Anne T., and David A. Soberman. "A Survey of Outlet Mall Retailing: Past, Present, and Future | INSEAD Research." A Survey of Outlet Mall Retailing: Past, Present, and Future | INSEAD Research. N.p., Apr. 2004. Web. 17 Apr. 2014.
"Outlet Location." The Difference in Product Quality Between Outlet Stores and Retail Stores. N.p., n.d. Web. 4 Apr. 2014.
Straight, Michelle. "Outlet Vs. Retail." Small Business. N.p., n.d. Web. 3 Mar. 2014.
Wikiel, Yolanda. "Where Can I Get a Better Deal- at an Outlet or an Off-Price Retailer?" Real Simple. N.p., 2013. Web. 3 Mar. 2014.
"Organize Your Retail Spaces To Encourage Buying." Firmology. N.p., 1 Oct. 2013. Web. 25 Apr. 2014.
"Retail Locations." N.p., 2008. Web. 2 Apr. 2014.
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.
Retailers rely on product positioning to bolster the value of their products. Determining product positioning requires the analysis of target customers, the market competition, the definition of competitive advantages, and the communications needed to deliver the chosen position to the consumer. Kohl’s is an example of a department store that has successfully deployed a pricing a retail strategy, which evaluates and incorporates price, place, product, and promotion.
However, on the local level, specialty retailing is defined by independently owned, unique shops that express the personalities of their owners. These small retail outlets -- shoe stores, food stores or book stores -- have become the bedrock of downtown and urban redevelopment across the country.
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...
In general merchandise retailing, Wal-Mart’s primary competitors are Target and Kmart. Retail superstores such as Circuit City and Bed, Bath, and Beyond, also provide retail competition. A survey found that the majority of respondents favored Wal-Mart over stores like Target and Kmart. Respondents claimed Wal-Mart offered lower prices, better variety and selection, and good quality. The needs of consumers is an important economic feature in all competitive environments. What attributes (price, variety, quality, etc.) prompt buyers to choose one retailer over another is very important in the competitive landscape.
Nordstrom’s retail positioning strategy provides it with the competitive edge it needs to differentiate it from competitors who also serve similar markets.
Shoe stores, people love them hate them but cannot keep away from them. Let’s be honest everyone loves shoes. Two big shoe stores at the Mall are Champs and Footlocker these stores are notorious for having the newest styles, trends and up to date freshest shoes. These two stores are very similar in some aspects but in some are very opposite varying in their placement of merchandise,sales, price’s, staff, and appearance. But in overall it comes down to who has the best sales and customer service which both are very similar.
For the purpose of this study, the researchers have opted to take the point of view of Carrie Galeotafiore, an analyst from Value Line Publishing (VLP), who specializes in the retail building-supply (RBS) industry. This perspective allows us to be knowledgeable about economic, industry, and entity specific factors relevant to this study. Moreover, it justifies our professional judgment for the resulting estimated figures used.
Ron Johnson spent a great deal of time and money to promote his ideas of “stores-within-stores” by turning floor space into an area to house several branded boutiques. He did this in order to attract a target market of a wider demographic which includes age, gender, and generation. One of the m...
stores are smaller because the products are mainly grocery items. They have wide aisles and
We are still a nation of shopkeepers, and shoppers: employment in retailing has increased, and there are signs that consumers are becoming cannier, more selective and more demanding, in terms of price. Also, greater affluence has brought with it a taste for the good life: higher quality food products, more expensive personal and electrical goods with which to indulge our leisure time, and also a desire to cut corners and choose simplicity and convenience, both in food buying, and sectors such as DIY and even clothing, where high style and seasonal fashion changes have given way to functionality and ease of wear. This reflects the changing lifestyles of women, which influenced many of the retail trends between 1999 and 2003. More women working, both full-time and part-time, greater affluence among parents, less time to be at home and cook, sew and clean, and ultimately less time to shop, has had a huge impact on the high street, as one-s... ... middle of paper ... ...
Retailing consists of the sale of goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by post, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be individuals or businesses. A "retailer" buys goods or products in large quantities from manufacturers or importers, either directly or through a wholesaler, and then sells smaller quantities to the end-users / consumers. Retail establishments are often called shops or stores. Retailers are at the end of the supply chain. Manufacturing
"There's No Place like the Mall: U.S. Shoppers Unplug." Newswire. Nielsen, 23 May 2013. Web. 27 Feb. 2014.
When comparing two different ways of shopping most people do not even think about, they do both and not even realize it. In today?s society people shop while at work, after work and on the weekends, whenever time permits. Did you ever stop and think how can I get more time in the day for family or just myself? The best way to figure out with all the recourses we have; still most of us go into a store and spend time looking through racks and waiting in endless line to just purchase something. I compared going into a store verses online shopping; to see which on will save you time and money.
Department stores do not manufacture products nor create their own brands of merchandise, their products are not differentiated. As a result, consumers have low switching costs, customer loyalty is low, as they can easily purchase similar products elsewhere. These lower the barriers to entry, allowing new entrants a chance to gain customers.