Three Rivers Optical

It would only make sense that the company is paying attention to what their customers need, want, and think. If the company is up for it, they will create a loyal customer and a good sector in the marketplace in regards to their products.

​New entrants must also consider how well existing companies have mastered the art of converting combining customer and third party seller data together, and converting it into useful information for future customers. Customers are able to see previous customer reviews and seller ratings without even meeting the seller. The transparency of sellers, provide customers with the comfort of knowing what type of seller they are dealing with before a transaction even occurs. New entrants to the industry would not be able to provide potential customers with the same transparency seller transparency that an existing seller would be able to (eBay, 2010).

Accordingly, to reach the scale of revenue required would mean increasing the number of transactions per month a few folds from 2,000 to 8,000 transactions. Moreover this would require not only increase in the marketing of the existing 2,000 products listed on the store, but a significant increase in the breadth of product offerings. If the number of vendors was not going to increase the current process might continue be manageable, nevertheless one of the Store’s strategies is to limit the number of products from each vendor to only 20, hence requiring an increase in the number of vendors fourfold which is relative to the increase in revenue.

Retail industry sector encompasses companies and individuals that are engaged in selling products to consumers. As the biggest economy in the world, retail industry in the U.S. is one of the biggest industries in the world with total sales of nearly $5 trillion in 2016 as per www.census.gov. National retail foundation’s report mentions retail industry as the largest private sector employer in the United states with about 15 million people working in the industry. Retail industry in the united states comprises brick and mortar stores and a growing e-commerce sector.

Services, Customer focus, Growth platforms, and Globalization. Immelt implemented a six part growth process, shown in Figure 3 below.

Today, the average retail products include (but not limited to): prescriptions, food, cosmetics, toiletries, and tobacco products, but dominate in the pharmaceutical department that holds the highest profit. Chain drug stores currently possess the greatest market share in the industry when compared to independent stores and the majority are incorporated at 76% of all drug store firms.

Some of these strengths include great core values, their human and social capital, they carry a wide variety of products that have a strong brand name, and their expansion through global expansion and investment.

CanGo’s purchaser base and records base of clients offers them a competitive gain and an higher hand towards an ever-converting marketplace.

Another key strength would be its staff. The company was able to draw from a talented and experienced pool of workers within the automotive industry. This was made possible due to the concentration of automotive suppliers located within the Rio Grande Valley both within the United States and Mexico. The company is able to draw from the employee’s vast experience allowing the company

Being able to acquire a new market may bring those new customers to their current market.

The retail industry has always been a large portion of the U.S. economy. In 2012, the industry had nearly one million stores and accounted for four trillion dollars in revenue. An estimated two-thirds of the U.S. GDP

Higher value can attract more customers or increase the profit margin for the value add benefit.

A comparable industry I have determined would be the movie sales and rental industry. The pricing of my items also will need to be compared to other larger retailers to ensure I am remaining within the industry average selling price, and the industry trade price.

customers, which should have allowed Timken to better serve existing clients at a lower cost

For example if you take Black Friday sale on 2009, Amazon isn't a huge threat to Walmart, accounting for just 3.3 percent of retail sales. Nonetheless, while online sales currently make up less than 5 percent of all retail sales, analysts expect that to rise up to 15-20 percent over the next decade.