The Current State Of The Retail Industry Has Drastically Over The Last Few Years

1381 Words Dec 16th, 2015 null Page
The retail industry has been changing drastically over the last few years. With technology constantly changing, those in the industry have to continuously change the way their business is ran in order to continue to be successful as well. I have conducted a strategic analysis on the current state of this company and included a few suggestions. First, we have to know which products are performing well and which are simply not hitting the mark. Data showed that according to the product type and the amount of revenue earned, eyewear is the most successful selling product with a revenue of $478,802,165. Following eyewear is tents with $298,255,381 in revenue and watches with $295,255,381 in revenue. These numbers are based off of revenue worldwide and are not specific to just one country. The lowest selling product types based on revenue would be first aid bringing in only $4,593,828 in revenue, sunscreen with $13,746,896 in revenue and insect repellant with $16,567,800 in revenue. Yes revenue is still being made from these three product lines, but, not as much as the others. With that being said, it should be considered that these three product lines should be dropped, so that the money that was used for those lines can be put towards the successful lines. Out of all of the products being sold across each product line, I was able to filter out the top twelve products that brought in the most revenue. The top three products based on revenue is “Star Lite”, “Zone” and…

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