HMV is now in receivership after owing HUK 10 a restricting firm almost $39 million as of January 24th, with no payments since Nov 2014. HMV’s profits increased from 2011 to 2013, began to decrease in sales and go into negative earnings since then. HMV’s revenue has dropped from $266 million to $193 million in 2016. Profit continues to fall as more customers move onto online consumptions of media. HMV is to cease all operations by Apr. 30.…
The preppy and quirky merchandise Urban Outfitters offers has resonated well with the young consume base, giving Urban Outfitters a strong brand recognition and loyal customer base. An alternative vision of retail offers consumers something authentically different and sometimes daring. Urban Outfitters is creative with an independent voice and new ideas, appealing to youth culture (Trefis team, 2014).…
After shuttering its catalog business and spending the last few years focused on driving sales via a multitude of promotions, sales, and featuring exclusive brands, longtime retail giant JC Penney has lost its competitive advantage and is in desperate need of transformation (Kinicki & Williams, 2013). Despite having 590 separate sales last year Penney’s was unable to drive sufficient sales traffic in their stores or over the internet (Kinicki & Williams, 2013). As a result, Penney’s same store year over year sales increased a meager 0.7%, whereas competitors like Macy’s achieved 5.4% growth during the same period (Kinicki & Williams, 2013). Moreover, Penney’s was forced to sell approximately 75% of its merchandise at a discount of 50% or…
Tanglewood Department Store is a general retail industry that engages in the sales of nondurable goods such as clothing, small appliances, electronics, and other housewares. According to recent estimates, this retail industry provides jobs to approximately 23 million people and accounts for over $3 trillion in annual sales. In comparison with several top retail industries, the financials demonstrate that Tanglewood is a moderately sized organization with strong growth potential in operating revenues and profit rate. The company has purpose that is similar to Kohl’s or Target, which is trying to appeal to the middle and upper income group of consumers who look for convenient and reasonable prices.…
Implementation ( Zhen) Based on the above analysis, to solve the issues and improve the performance of J.C.Penney, we suggest the following 1-year implementation plan: Close 500 stores which cannot make profit or have deficit in the last 2 years. Increase 5% of the market share Do more market research and redesign the product roadmap to attract more customers. Invest more capital to improve the user experience and the quality of its website and app.…
$215 later You go into a store intending to buy an outfit, $215 and two hours later you come out with a new Kohl’s charge card, three new outfits including shoes, a waffle maker, and popcorn popper. Then you’re sitting there asking yourself how you let this happen, I’m here to tell you this isn’t not your fault, we all get sucked into the black hole of consumption. Stores do everything with a purpose; nothing is ever meaning less, their location, design, layout, promotions…ect is all done internally in hopes of encourage consumption out of its customers. A stores exterior is extremely important because that is what costumers first see and it is a perfect place to showcase important promotions the store wants customers to know.…
Target Market of Primark Demographics: Segmentation Target customers Income Low-medium income Gender Generation Y (Jahn, 2015) Occupation Student or Young Worker Age Mainly16-24 (Neville, 2016) Psychographics Life style Milan is the second highest fashion market and one of the highest growing market for fashion consumers (Kent, 2011). Price sensitivity Very price sensitive (Kotler.…
As a leading off-price apparel and home fashions retailer, Ross chooses only one type of distribution channel. Ross only distributes products through its brick and mortar stores. Ross was founded in 1957 and its headquarters is in Pleasanton, California (Pan, 2013). Ross now has 1,253 stores in 33 states of the United States (including big states like Arizona, Florida, Texas), the District of Columbia, and Guam (Pan, 2013). Ross stores, which are average 26,100 square feet, reside in strip shopping malls in urban and suburban areas (Vault, 2016).…
When as a customer we think about discount retail industry; one of the most renowned names occurs i.e. Primark. Primark has developed the industry into a successful leader under intense competitive market, and they have continues to set up the bar for each and every organisation. However, over couple of years, Primark’s sales growth has faced a down turn that has led to create major issue for the organisation. From the past few years; Primark has developed into double digit sales growth rate; still they are unable to compare from their past success. Now at present time, Primark is facing with the challenges for regaining the success that they were able to hold up previously.…
Norm Frazier, senior vice president of Advertising Sales, is a high-energy salesman with strong ad sales performance. With the growing competition in the industry, most members of the leadership team are urging to change the current situation. No correct identification of consumer segmentation While Lifetime is taking away ad buyers by targeting younger female viewers, and while CNN is delivering fashion information and news to men, TCF is still using their out-of-date strategy. Besides its basic demographic, the channel didn’t have detailed information about its valued viewers.…
II. INTRODUCTION A. Description of the Business The mission of Toys R Us is to bring joy into the lives of its customers. Established in Washington D.C in 1948 by Charles Lazarus, a man who dreamed of turning a world full of toys for children into a reality, Toys R Us was originally a baby furniture store. As his business grew Lazarus discovered new ways to satisfy his customers by introducing infant merchandise and toys for toddlers.…
Foot locker is a global American sportswear and footwear company that was founded on September 12, 1974 by Frank Winfield Woolworth. This company is trusted by many customers due to their sales and their motto, “If it’s Foot Locker, It’s Approved”. Foot Locker is known for selling real sneakers that are not copyrighted and to sell them for their retail price. Social Media plays a big role for Foot Locker. Since Foot Locker is a global company they do have an online store because they are located in only 28 countries.…
The possible job roles that I am interested in are Fashion Merchandiser, Fashion Designer, and Fashion Sales Representative. The first job role is fashion merchandiser it has a important role in the fashion industry because as becoming a fashion merchandiser you will be analysing market trends, also things like previous sales numbers to determine the product that big manufactures will take their direction to for that season. Another big part is production costs which is how much is the product is going to cost? What trend?…
1.0 Introduction Cultural differences influence an organisation’s ability to penetrate a foreign market. As Ahistrom and Bruton (2009) note comprehending culture is vital to understanding the differences in business globally (p. 36). Various cultures have different management, communication, and negotiation styles that are influenced by societal values and norms. Therefore, companies that penetrate a new market have culture to contemplate besides a country’s legal structure, economic position, and competitors. Consequently, some multinational companies will employ different strategies such as diversification, product development, franchise, or mergers in order to penetrate foreign markets with distinct cultures.…
The scenario clearly depicts the unlawful act of Aussie Clothes because they accepted the delivery and then refused to pay the price of the items. In fact, Aussie Clothes sold the items on discounted price to the customers and gain profit. The issue or the problem lies with the Aussie Clothes because instead of returning the items and terminating the contract they accepted the delivery and gained profit. On the other hand, Jump Clothing (seller), took advantage of this unlawful act of Aussie Clothes and initiated a legal action in terms of breach of contract. Consequently, the seller won within their country.…