Retail Management

8444 WordsFeb 23, 201134 Pages
MARKS : 80 COURSE :MRM SUB : RETAIL MANAGEMENT N. B. : 1) BOTH CASE STUDIES carries equal marks. 2) All questions are compulsory CASE NO. 1 THE OUTLOOK FOR SOFT GOODS SPECIALITY STORES Introduction Soft goods specialty retailers are on a quest to grow, with the high-growth ``stars’’ working to maintain momentum by rolling out successful concepts nationally while investing in new concepts that offer long-term promise. The less stellar performers are reinvigorating tired concepts and strengthening margins via better inventory and promotion management. A saturated marketplace will motivate more specialists at both ends of the spectrum to seek growth by building a portfolio of concepts focused on ever-finer…show more content…
…5… Suppliers with the most substantial full-price store base include Jones Apparel Group (primarily shoe stores, www.jny.com), Liz Claiborne (primarily via Mexx in Europe and Canada, www.liz.com), and Polo Ralph Lauren. The two soft goods catalog retailers relatively new to full-price retailing that are most actively building their store chain are Coldwater Creek (www.cp;dwatercreek.com) and J. Jill (www.jjill.com). Growing diversity is making it more difficult for many specialists to adequately address the needs and expectations of all of their target customers – a critical requirement for success in the specialty store arena. Diversity is also propelling more retailers to tailor assortments and adjust merchandising tactics on an individual store basis. Previously, many only altered the offer to reflect regional seasonal variations and market size differences. Apparel and footwear are steadily capturing less of the consumer’s total spending, This is in part due to a shift in consumer spending priorities toward necessities (home, health, and transportation), as well as toward new everyday ``luxuries’’ such as eating out and entertainment – which including products such as consumer electronics. sporting goods and toys, and the cost of fees/admission to sporting events, concerts, movies, clubs, and other types of events. Consumers are increasingly willing to cross
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