Retail Location...Good or Bad?

I went to Harris Teeter on Lawndale and found that the retail location of this grocery store was pretty good. It is right off of Battleground Avenue and in a strip mall. It is beside of Petsmart and Target which are two highly populated stores. The parking area is well done but there maybe could be a few more areas to park.

Plus, the grocery store is located in a pretty nice area so you don't feel unsafe going there. One disadvantage is there is no protection from the weather. Other than that, the retail location is pretty good and the traffic stays steady most of the time.

The only thing about Harris Teeter on Lawndale is that you need to know where it is located. If you were to drive down Battleground Ave, you would not come across the grocery store because it is off of the main road. I would say that overall the store's retail location is pretty good.

Why Retail Stores Fail...

Circuit City, Claire's and Linen's and Things are just a few companies that have recently declared bankruptcy during this tough economic time. According to fool.com, they predicted Circuit City would fail even before it did. Why? Well according to the website, even during good economic times, Circuit City still struggled. Consumers looked elsewhere to purchase electronics. Preferably, from top competitors such as Best Buy and Wal-mart.

Washington times.com was first to report that Circuit City would be closing it's 567 US stores. Circuit City Stores Inc, which is one of Washington's largest home-grown franchises simply could not clinch a deal to remain in business because it couldn't obtain financing from their lenders or their suppliers. Plus, the competition was extremely high considering Best Buy and Wal-mart are two of it's top competitors.

I believe retail stores fail because of the reasons listed above from the particular websites. Retail stores fail because of steep competition, bad economic times and poor support from suppliers and lenders. Hopefully, the stores that are in trouble, those such as Ann Taylor and Eddie Bauer will pull through this recession and remain in business once things start to look up.

Retail Stores Target Audiences...

Every store has a particular target audience. For example, Abercrombie and Fitch caters to teens and young adults in their early twenties. Abercrombie and Fitch also caters to those who are physically fit and often do not have plus size clothing.

Another store with a particular target market is Lane Bryant. This store has a target audience of plus size women who want to look nice. Also, Coldwater Creek is another example of a target audience. They cater to the older woman, usually 50+ years of age. I could go on and on about stores and their particular target audiences, but I just named a few.

After taking the VALS survey, my results showed that I am and Experiencer/Achiever. My primary VALS type is an Experiencer while my secondary is an Achiever. I do agree with these results. I do spend most of my income on fashion! I also agree that the VALS survey corresponds with my group members target person. This was an interesting quiz to take and it gives an accurate insight into what type of target market you are in.

Neiman Marcus...

Neiman Marcus is an upscale department store that is operated by the Neiman Marcus group located here in the United States. Neiman's headquarters are in Dallas, Texas with competitors such as Nordstrom, Saks Fifth Avenue, Barney's New York and Bloomingdale's (Wikipedia 2009).

The Neiman Marcus group also operates Bergdorf Goodman specialty department stores in New York City. They also have a Direct Marketing Division known as Neiman Marcus Direct which operates online and catalog duties. Neiman's was established on September 10th, 1907 by three entreprenuers (Wikipedia 2009).

Neiman Marcus is well known for their excellent customer service with 38 stores in the United States and two Bergdorf Goodman stores located in New York City. One drawback to Neiman's is that they only accept a Neiman Marcus credit card, American Express credit card, cash or checks for purchases. However, if you want to purchase an item online, they will accept Visa or a debit card (Wikipedia 2009). Neiman Marcus, along with Nordstrom and Saks Fifth Avenue are three of my absolute favorite department stores because of their enticing atmosphere, excellent customer service and high-end designer products!

My Favorite Retailer

My favorite retailer/retailers would have to be Saks Fifth Avenue, Nordstrom and Neiman Marcus. All of these department stores have excellent customer service with high end designer items. Nordstrom will actually match the price of an item they sell if you find that particular item that they are selling elsewhere for a cheaper price. I have done this and it was an excellent experience and I got an amazing deal on my Prada butterfly sunglasses!

Saks and Neiman Marcus almost always have a Louis Vuitton or Chanel boutique inside of their department stores. Louis Vuitton and Chanel are two of my absolute favorite brands ever! I love these department stores because they carry designer brands that have much better quality and customer service than other retailers. Also, the stores are very enticing, meaning they have displays and decorations that are really beautiful and this gives the shopper a better and prettier environment to shop in.

These are just a few of the reasons why I love Neiman's, Saks and Nordstrom! Not only is the customer service excellent, the quality is better. Plus, you have all of these amazing designers right there in one place! Lastly, if you ever want to return an item, there is usually never a problem and they will give you your refund however you want it.

How the housing crisis has affected home fashion retail...

The housing crisis has put a huge damper on home fashion retail. People are not buying houses now, and those that own a home don't have the money to "decorate" a house, especially when the cost is so high for furniture and accessories. More people are worried about paying their mortgage than decorating their home.

Although the clothing retail industry has also struggled, it has not struggled nearly as bad as home fashion retail has because clothing is a necessity. Decorating your home is not necessarily a necessity, although it is for me.

I am interested to see if home fashions will pick up in the near future. I believe that once more houses start selling, people will want to furnish them, therefore helping the home fashions side of retailing.

Guest Speaker

I really liked the guest speaker Elyse Mullis. She had a great personality and was very enthusiastic about her job. I liked especially how she designed the layouts for her company. That was neat. It was also cool to see what kinds of jobs you can get with a CARS degree.

I also liked how she lives near Southpark mall in Charlotte. That is my favorite mall. I also thought that it was neat that although she didn't get paid during her internship, she learned alot about graphic design and found out that it was a true passion of hers through her internship. While she didn't get paid, her experiences and what she learned while interning "paid" off and got her a job she really enjoys.

It was also interesting that she majored in English but got a minor in the CARS department. I didn't even know you could get a minor in CARS. I think she made a smart decision. That really also goes to show you that it really is all about connections like she stated during her presentation. She was a sweet girl that loved her job and she will do well in her field.