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Wiki3 Diff Stores
 

Wiki3 Diff Stores

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    Wiki3 Diff Stores Wiki3 Diff Stores Presentation Transcript

    • Different Types of Stores By Katie Miller
    • Three Tiers of Department Stores
      • First Tier : upscale, high fashion chains with exclusive designer merchandise and excellent customer service.
      • Example: Nordstrom, Neiman Marcus, Bloomingdales, Saks
      • Second Tier : Retailers sell more modestly
      • priced merchandise with less customer service:
      • Example: Macy’s
      • Third Tier : Value oriented caters to more price conscious customer
      • Example: JCPenney, Sears, Kohl’s
    • Issues in Department Store Retailing
      • Competition
      • - Discount Stores on Price
      • -Specialty Stores on Service, Depth of Assortment
      • Lower Cost by Reducing Services
      • -Centralized Cash Wraps
      • More Sales
      • -Customers Wait for Sale
      • Focus on Apparel and Soft Home
      • Develop Private Labels and Exclusive Brands
    • Full-Line Discount Stores
      • Full line discount stores are retailers that offer a broad variety of merchandise, limited service, and low prices.
      • Offer both private labels and national brands.
      • Wal-Mart alone accounts for 66% of full-line discount sales.
      • Full-line discount stores confront intense competition from discount specialty stores that focus on a single category of merchandise.
          • (Office depot and Bed & Beyond)
    • Issues in Discount Store Retailing
      • Only Big Three Left
      • Wal-Mart, Kmart, Target
      • Wal-Mart’s Dominance
      • Differentiate Strategy
      • Wal-Mart = Low Price and Good value
      • Target = More Fashionable Apparel
      • Competition from Category Specialists
      • Toys-R-Us, Circuit City, Sports Authority
    • Specialty Stores
      • Specialty stores concentrate on a limited number of complementary merchandise categories and provide a high level of service in a small stores.
      • They tailor their retail strategy toward specific market segments by offering deep but narrow assortments and sales associate expertise.
    • Issues in Specialty Store Retailing
      • Mall-Based Apparel Retailers
      • Decline in Mall Shopping and Apparel Sales
      • -Lack of New Fashions
      • -Less Interest in Fashion
      • -Increase Price Consciousness
      • Lifestyle Formats – Abercrombie and Fitch and Hot Topics
    • Drugstores
      • Drug stores are stores that concentrate on health and personal grooming merchandise.
      • Experiencing sustained sales growth because of the aging population.
      • Drug store competition
          • Pharmacies in discount stores
          • Prescription mail-order retailers
    • Issues in Drug Store Retailing
      • Consolidation – Walgreens, CVS, Rite-Aid
      • Evolution to a New Format
      • -Stand Alone Sites with Drive Thru Windows
      • -offering more frequent purchase food items
      • Improved systems provide personalized service in the pharmacy
    • Category Specialists
      • Deep and Narrow Assortments of merchandise.
      • Use a self-service approach, but they offer assistance in some areas of the store.
      • Wholesaling to Business Customers and Retailing to Consumers
      • Incredible Growth
    • Category Specialists Continued…
      • A home Improvement center is a category specialist offering equipment & material used by do-it-yourselfers & contractors to make home improvements.
      • Complete category assortment at low prices.
      • The largest U.S. home improvement chains
          • Home depot
          • Lowes
    • Home Improvement Centers
      • Displays are warehoused
      • Customer Service: How to select and how to use merchandise
      • Competition focuses on price, effort to differentiate and services provided
    • Off-price Retailers
      • Also known as Close-out retailers wh0 sell end-of–the-season items
      • Offers an assortment of name-brand merchandise at low prices.
      • Merchandise might be odd sizes or unpopular colors/styles.
      • Buy at lower prices
      • Purchased at 1/5 to ¼ of the original whole sale price
    • Off-price Retailers
      • Outlet stores are off price retailers owned by department or specialty stores.
      • Factory Outlets are owned by manufacturers.
      • Outlets are viewed to improve their revenues from irregulars, production over-runs, and returned merchandise.