...Social Influence and Online Retailing Andrea Harrison with Neal Gorevic and Robert McCutcheon, July 2009 The rise of the social web has created a new way of looking at online retailing, specifically how social influence can be harnessed to move consumers from consideration to sale. We‟ve noticed a few examples that lead us to believe that incorporating social into a shopping experience may just be what retailers need to counter-effect the decrease in discretionary spending brought on by the bad news economy. 1) Using core influencer content to editorialize your product offering Target recently announced the launch of Red Hot Shop, a new eCommerce venture combining traditional online retailing with the editorial styling of Daily Candy (a daily email and website dedicated to trends and deals for the savvy shopper). This bundling of retail and editorial is not new to publishing, magazines have long used editorial to sell the products contained in its ad pages. What is new, however, is a mainstream volume retailer like Target taking on an editorial voice to connect with their consumer. The Daily Candy voice is a highly influential one, and often takes the persona of your most in-theknow, trend-watching, fashionable and sample-sale savvy friend. In other words, someone we all need in our life to make sure we make good decisions. 2) Embracing the customer‟s voice Zappos has been an early proponent of the power of social influence, and the company makes user reviews and feedback...
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...Case Study: Online Comic Book Retailing Case Study: Online Comic Book Retailing Much like a lot of retail businesses the sale of comic books and related items has both grown and moved from the brick and mortar shops to online. In some cases this is to expand their customer base. In others it is a way to reach customers without the overhead of a physical shop, which carries various levels over overhead. My case study will look at three businesses, Mile High Comics, (milehighcomics.com) Midtown Comics, (midtowncomics.com) and My Comic Shop .com (mycomicshop.com). These three shops have different backgrounds and different levels of web presence. I’ll consider each to these things in the case study of online comic book retailing. I chose online comic book retailing as its something that I have familiarity with. Once upon a time I was a manager at a brick and mortar shop in St. Louis, Missouri. The Comic shop that I worked at was a family owned business and had been around for 20 years. The time away near the end of the 90’s and we were beginning to see a decline in sales Like many comic book retailers. You see in the early 90’s the comic book industry saw a boost in sales. Young readers were picking up comics for the first time. Many were getting into comics for the first time many were returning. A big reason for this is was that the large publishers, DC Comics and Marvel, were making efforts to bring new readers in different ways. One of these ways was to begin making collectable...
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...------------------------------------------------- Retailing A person who can communicate well, convince people easily, and sell something right off, fit well in the retailing business. By serving as the middleperson of producers and consumers, a retailer can earn money easily by selling food, apparel, home furnishings, appliances, automobile parts, and many other kinds of goods. Retailing is selling goods directly to consumers. This entrepreneurial activity is based on the understanding that while a customer keeps buying and never lets up, there are actually certain factors that keep a retailer’s sales up. Consumables and other products with recurring sales value have to be placed regularly on the customers’ homes and ultimately on the retailers’ shelves. Types of Retailing 1. Store-based retailing – Store retailing can take form of an over-the-counter service or a self-service store, a big department store, or a small kiosk offering a variety of goods. Store retailers operate on a fixed location which can draw a lot of walk-in customers. * Supermarket a large self-service store that carries a wide variety of household, food, and laundry products. Examples are Rustan’s Supermarket, SM Supermarket, and The Landmark Supermarket. * Convenience store a retail store that is located near a residential area that is usually open 24 hours a day , 7 days a week. Examples are Ministop, 7-Eleven, Shell Select, Caltex Starmart, and Petron Treats. The growth of the call...
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...be able to get the practical examples of different market strategies, marketing mix, market segmentations and other marketing topics. Such inputs are always very helpful and it provided us the enthusiasm to continue our hard work. EXECUTIVE SUMMARY Shoppers Stop is an Indian department retail store chain. It offers total 350 brands, international brands and national brands, to their customers who act as their strength and help them retaining as well as making new customers. They believe in retailing quality products. Shoppers Stop advertises its brand through various medium to reach out to maximum people. It aims to position itself as a global retailer. The company intends to bring the world’s best retail technology, retail practices and sales to India. Table of Contents | | Serial No. | Contents | Page No. | | | | 1 | Introduction | 1 | 2 | Market Segmentation | 2 | 3 | Targeting | 2 | 4 | Positioning | 3 | 5 | Retail Strategy | 4 | 6 | Online Retailing | 4 | 7 | Brand Makeover | 5 | 8 | Products Offered | 5 | 9 | Customers Of The Company | 5 | 10 | Competitors | 6 | 11 | SWOT | 6 | 12 | Sales Promotion | 7 | 13 | Advertising | 7 | 14 | CRM | 8 | 15 | CSR | 9 | 16 | Future Strategies | 9 | 17 | Exhibits | 11 | | | | | INTRODUCTION Shoppers Stop is a multi brand retail outlet because it offers variety of products meant for the whole family. The vast and diverse range of products available in Shoppers Stop is rare...
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...Nordstrom: How to Succeed By Selling Just One Shoe Ellen Korchnak Marketing 100 November 26, 2011 Professor Roy Mesich Abstract Nordstrom’s is an upscale retailer famous for its customer service; they go far beyond other retailers. Nordstrom’s has come a long way since its humble beginning as a shoe retailer in the early part of the 20th century, now with the 4th generation at the helm, it has positioned itself for the future with its customer-centric focus and rich history of entrepreneurial spirit. This report will focus on their marketing mix, level of service and challenges they face in the current retail climate. Nordstrom: How to Succeed By Selling Just One Shoe Nordstrom’s where they fit in the retailing mix Nordstrom’s is an upscale retailer following in the same category as Dillard’s and Macy’s a specialty store. Specialty stores carry a deeper but narrower assortment of specialty merchandise compared to a department store. They have more knowledgeable sales clerks and offer more attentive customer service. These retailers share a passion for outstanding customer service, upscale merchandise and outstanding store image. They all maintain a competitive pricing structure to stay competitive in this category. I think the upscale merchandise and outstanding customer service determine its profitability. Nordstrom’s level of service on the continuum Nordstrom’s level of service can be regarded as high full service off the scale of the continuum for...
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...In this task I am going to describe what types of organisations and structures in retailing are. Also I am going to describe the different branches of organisation and structures. Describe at least 4 classifications of different types of stores Hybrid retailers Hybrid stores offer new combinations of products in the same store. For example, Waterstones located in the Reading Oracle Centre is a bookshop which has a combined coffee shop to offer a dual experience for the customers. This type of shopping experience combines social activities with shopping meaning customers are more relaxed and in a better frame of mind to spend longer browsing products and making purchases. Independent retailers Independent retailers usually have less than ten branches. They sell either a specialist range of products such as medicines or they are general convenience stores which sell groceries, household goods, wines and spirits. These stores offer their own personal service and flexible opening hours. An independent store owner gets to decide the discounts, pricing and other trading policies that they apply (as long as they operate within the UK trading laws of course). Many independent stores' market share particularly in the food sector have declined due to a rise of the supermarket chain stores opening in many neighbourhoods. Franchised retailers Franchisee retailers have the selling rights in a geographical area and they pay a fee based on sales to the franchiser. Franchisee businesses...
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...Industry Surveys Retailing: General Jason Asaeda, Department & General Merchandise Stores Equity Analyst JUNE 2013 Current Environment ............................................................................................ 1 Industry Profile .................................................................................................... 12 Industry Trends ................................................................................................... 13 How the Industry Operates ............................................................................... 23 Key Industry Ratios and Statistics ................................................................... 29 How to Analyze a Retail Company ................................................................... 31 Glossary ................................................................................................................ 36 Industry References ........................................................................................... 37 Comparative Company Analysis ...................................................................... 38 This issue updates the one dated November 2012. The next update of this Survey is scheduled for December 2013. CONTACTS: INQUIRIES & CLIENT RELATIONS 800.852.1641 clientrelations@ standardandpoors.com SALES 877.219.1247 wealth@spcapitaliq.com MEDIA Marc Eiger 212.438.1280 marc.eiger@spcapitaliq.com S&P CAPITAL IQ 55 Water Street New York, NY 10041 ...
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...to the have everyday low pricing (EDLP) method, opposed to the popular at the time hi-lo pricing. Lucky for Walton, throughout the late 1900s there was a great trend in discount retailing—buying in bulk at a lower price, which EDLP catered to, making Wal-Mart the leading retailer. The firm also strides itself on its efficient strategies in its supply chain, especially within the distribution system. Throughout the past decade, however, there have been other trends, like online shopping, which have resulted in Wal-Mart’s decline. The firm’s stock price had been growing significantly, except in the past 10 years it has been flat—ranging from $45-$55, whereas its competitors’ stocks have kept increasing. This has made many shareholders, including James Neuhausen, a stock analyst, question the firm’s worth and its potential in years to come. When looking at Wal-Mart and its worth, it is important to have an entire overview of the firm, and really analyze the supply chain management installed at the company. First, the EDLP strategy has worked to put Wal-Mart at a competitive advantage over others in the retail industry. EDLP makes the operational costs as low as possible, increasing volumes of items sold, which generate higher aggregate gross profit. After competitors noticed the discount retailing trend and Wal-Mart’s success, they started copying Wal-Mart’s pricing strategy. Wal-Mart still led the industry in efficiency, however. The firm had competitive advantage because...
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...HOMEPLUS: RIDING THE KOREAN RETAILING ROLLERCOASTER Submitted by: Cananea, Franco Rivas M. Mohammad Yasser, Mahter A. Ortega, Trisha C. Sescon, Michael Andre A. Wahab, Irene L. Submitted to: Mr. Francis Arroyo January 9, 2016 HOMEPLUS: RIDING THE KOREAN RETAILING ROLLER COASTER Problem Statement How can Homeplus address the current conflict against Korea’s small store owners while continuously developing the company’s economic growth and performance? Objectives To maintain Homeplus’ growth and competitive strength, taking into consideration the various changes in the Korean retail market (e.g. proposed regulatory bills). Brief Description of the Case Tesco, a multinational retail giant from Britain, engaged in a joint venture with Samsung Group during the late 1990s in order to enter Korea's competitive retail industry. The new brand was called Homeplus and its management implemented various policies aimed at localizing the business while also introducing business practices from Tesco's British headquarters. Homeplus was the first retailing company to introduce the supply chain management system and to develop two different products that would cater the preference of the various income level earners. The company invested in growth and diversification through large discount stores offering an “all in one spot” shopping experience, small-sized-super-supermarkets, private brands, and online shopping. The secrets to Tesco’s success are its undying drive to provide value to customers...
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...Australian Consumer Trends ACRS Secondary Research Report 2010 The information contained in this report remains the property of The Australian Centre for Retail Studies and may not be reproduced without the permission of the Executive Director. Although every effort has been made to ensure the information contained in this report is correct, the ACRS assumes no responsibility for its accuracy, reliability, nor does it necessarily endorse the organisations listed herein. Contact: The Australian Centre for Retail Studies (ACRS) Level 6, Building S 26 Sir John Monash Drive Caulfield East VIC 3145 Australia Tel: (03) 9903 2455 Fax: (03) 9903 2099 Email: acrs@buseco.monash.edu.au Website: www.buseco.monash.edu.au/centres/acrs Front Page: Dreamstime Photography The information contained in this report remains the property of The Australian Centre for Foreword The Australian Consumer Trends Report We are pleased to introduce to you the 2010 update of our Australian Consumer Trends report series. In order to understand consumer behaviour, it is crucial for retailers to monitor the major trends, dynamics and competitive forces. Consumer trends largely define the context within which retail organisations function and, as such, are key drivers of the market. The report is structured around six key trends – value, busy, green, local, bored, and digital. Each section discusses the various drivers underpinning each trend, as well as the implications these present...
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...industry creates challenges for the retail sector in many ways. Creating a powerful retail experience begins with a commitment to consistency. It begins with an understanding of what the brand is intended to mean. It begins with a gratitude for how the brand meaning should shape the retail experience. It begins with the consciousness that for retail brands, the retail experience is very much the brand experience. It is always useful to have better customer insights, which will help to target the appropriate market segments. Program strategy then can be defined to improve the Retail Experience and finally through Advance Measurement techniques, we can measure the performance of how much we have improved upon the Retail Experience. RETAILING “Retail is the sale of goods and services from individuals or businesses to the end-user. Retailers are part of an integrated system called the supply-chain. A retailer purchases goods or products in large quantities...
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...EXCEL International Journal of Multidisciplinary Management Studies ________________ ISSN 2249- 8834 EIJMMS, Vol.4 (8), AUGUST (2014), pp. 6-19 Online available at zenithresearch.org.in DETERMINANTS OF RETAIL CUSTOMER SATISFACTION: A STUDY OF ORGANIZED RETAIL OUTLETS IN ERNAKULUM, KERALA LIGO KOSHY*; DR. S. JOHN MANOHAR** *RESEARCH SCHOLAR, BHARATHIAR UNIVERSITY, COIMBATORE, TAMILNADU. **RESEARCH GUIDE, BHARATHIAR UNIVERSITY, COIMBATORE, TAMILNADU. ABSTRACT Retailing consists of the sale of goods from a fixed location, such as a department store or kiosk, in small or individual lots for direct consumption by the purchaser. Some retailing businesses sells a combination of goods and services. Since the last decade, the field of retailing has experienced significant changes. Retailing in India is one of the pillars of its economy and accounts for 14 to 15 percent of its GDP. The Indian retail market is estimated to be US$ 500 billion and one of the top five retail markets in the world by economic value. India is one of the fastest growing retail markets in the world, with 1.2 billion people. As of 2013, India's retailing industry was essentially owner manned small shops. In 2010, larger format convenience stores and supermarkets accounted for about 4 percent of the industry, and these were present only in large urban centers. India's retail and logistics industry employs about 40 million Indians (3.3% of Indian population). Organized retailers, defined...
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...in a couple months. I don’t think there is anyone who does not know what Payless Shoe Source is. They may not have shopped there but they know what the store is by the name. Payless Shoe Source opened in 1956 as Pay-less National. In 1991 they changed their name to Payless Shoe Source, Inc. I think this is a great company to write about because they have been around so long and in that time they really have not changed who they are as a company and what they offer to the customers. 2) Describe how your selected retailer uses social media to build relationships with its customers. Payless Shoe Source uses many social media to build relationships with its customers from television ads to online ads to the advertisement that they do in the store. They have advanced with going online and being in contact with customers on the web. They are on facebook and twitter where customers can play a game to win a coupon. I don’t think there is anyone that would not like a coupon for when they go shopping for shoes, purses, or socks. Payless Shoe Source has always kept their styles up to do for...
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...Australian households are represented in this category. Economic The Australian economy has experienced a number of recessions that have affected the retail industry and this has shaken shareholder confidence. The current interest rate is at 3 per cent and the AUD is much stronger on a global scale. Because Australian’s are getting more for their dollar overseas, many are opting to shop online. Socio-Cultural Australians are brand conscious and many wish to appear wealthy. Ninety per cent of Australians view themselves as being part of the middle income bracket. Also, the retail industry is dominated by women’s fashion. Australians prefer to shop in a department store format. Political-Legal In many cases, online shopping does not attract the GST, and this encourages Australian shoppers to turn to online sources to buy their goods. Liberal trade laws in Australia allow for easier acquisition and mergers with other businesses. This allows companies like David Jones to acquire less well know local businesses and expand. Global Consumer behaviour has changed greatly on a global scale. Online shopping has become a powerful competitor as many buyers can now afford shipping costs. Environmental...
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...Introduction Emphasizing its focus on the diamond retailing industry toward the end of 2008, Blue Nile and Diamond Retailing have aggressively risen as a concern for businesses in the United States due to an economic downturn. The vast majority of diamond retailers are affected by this downturn. Given the basic performance information on Blue Nile, Zales, and Tiffany, our group will be analyzing all three companies and examining their business situations. Blue Nile is emphasizing how it has taken advantage of the internet and gaps left by the brick-and-mortar retailers, in order to build a new channel of distribution and emerge as a competitor to established retailers. Whereas Tiffany Co. who has primarily decided to open small retail outlets that will focus primarily on high-value products in small prosperous areas, and Zales whose primary concern is securing demographics as its market share. In our research we will include important drivers of supply chain performance, assumptions and uncertainties of the supply chain design, an assessment of the current supply chain design and our recommendations on improved performances in regards to each company’s strategy and structure. This will help us consider most importantly how each company affects the firms ability to respond during periods of strong and weak demand. Assumptions, Factors and Uncertainties Making our strategic recommendation we are assuming that the diamond industry has been heavily impacted by the...
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