As discussed in class, the three most important things regarding retailing are "location, location, location," In thinking about the placement of certain stores, restaurants, and service centers, I could not agree more with the importance of location. The correct positioning of a retailer can either make or break business.
One retailer came to mind when thinking of this assignment. This year, Walgreens opened their doors on the corner of Spring Garden St. and Aycock St. in Greensboro. Because pharmacies are among the most trafficked retailers, it is important to investigate the location of the new store. There are several advantages and disadvantages of putting a Walgreens in this particular spot.
Among the advantages is the close proximity to a college campus. This store is definitely within walking distance to UNCG, which is certainly a boost for business. Also, the store falls right along the path for many pedestrians that walk or bike to UNCG's campus. This just goes to show the convenience of the location. Also, The intersection of Spring Garden St. and Aycock St. is among some of the busiest in Greensboro, providing more exposure to potential customers.
While locating at a busy intersection can be seen as an advantage, it may also be just as much of a disadvantage. I have found that this particular is sometimes difficult to navigate in and out of. In most cases it is more difficult to exit this paricular parking lot than it is to enter. This is probably the most noticeable disadvantage of locating here.
Parking at the new store is efficient and plentiful. I have found a decent parking place on each visit I have made to Walgreens. Overall, I feel as though opening a Walgreens on this particular corner has been strategic and prosperous. Anytime I pass the store, I always see several cars in the parking lot. When it comes to location, Walgreens definitely know's where to plant a new store.
Friday, March 20, 2009
Thursday, March 5, 2009
Linen's 'N Things
One of the larger named retailer's that recently closed it's doors was Linen's 'N Things. With similar companies, like Bed, Bath & Beyond still operating, one may wonder what forced the retailer to liquidate. According to an article posted in a New York Times online blog, the decline in the housing market, along with the slump in consumer spending undermined the company's ability to pay it's suppliers. ( http://dealbook.blogs.nytimes.com/2008/10/14/linens-n-things-to-liquidate-after-failing-to-find-a-buyer/ ) The article goes on to say that there was some hope of a buyer purchasing the company however, nothing worked out in the end.
Another article from reuters.com explains that the money that is made in the liquidation sale will go to pay off the company's creditors, but many of its lower tier unsecured creditors are unlikely to receive anything back. ( http://www.reuters.com/article/governmentFilingsNews/idUSN1535213520081015 ) All in all, the company had 371 retail locations in the US and others in Canada. The stores were closed over a span of 11 weeks.
In my opinion, I can definitely see why Linen's 'N Things had to close it's doors. It makes sense that if people are not buying houses, then they do not need items to furnish, decorate, or accessorize them. It is interesting, however, that other stores of the nature, such as the aforementioned Bed, Bath & Beyond are still operating as though nothing has changed. Perhaps, before it's all said and done, other stores will also have to declare bankruptcy and liquidate. It is definitely obvious that the fate of Linen's 'N Things was determined by the economical problems that are plaguing the United States. In perspective, this was just one of many companies having to make similar decisions.
Another article from reuters.com explains that the money that is made in the liquidation sale will go to pay off the company's creditors, but many of its lower tier unsecured creditors are unlikely to receive anything back. ( http://www.reuters.com/article/governmentFilingsNews/idUSN1535213520081015 ) All in all, the company had 371 retail locations in the US and others in Canada. The stores were closed over a span of 11 weeks.
In my opinion, I can definitely see why Linen's 'N Things had to close it's doors. It makes sense that if people are not buying houses, then they do not need items to furnish, decorate, or accessorize them. It is interesting, however, that other stores of the nature, such as the aforementioned Bed, Bath & Beyond are still operating as though nothing has changed. Perhaps, before it's all said and done, other stores will also have to declare bankruptcy and liquidate. It is definitely obvious that the fate of Linen's 'N Things was determined by the economical problems that are plaguing the United States. In perspective, this was just one of many companies having to make similar decisions.
Friday, January 30, 2009
Favorite Retailer
In thinking about it, there really are very few retailers in which I shop. If I had to choose my absolute favorite from these few, it would definitely be Banana Republic. Here are the top five reasons why Banana Republic is my favorite.
1- Banana Republic always seems to have fashionable yet classic clothes. I do not claim to be incredible fashion forward, therefore this classic look always attracts me as a shopper.
2- You can always find something for any occasion. Whether I am looking for an outfit to wear on a date, or a cute dress to wear to a party, I know Banana Republic will have something appropriate.
3- Lasting quality. I have never been disappointed by a purchase from BR. The clothes they sell hold up well and last for years.
4- They have fashionable mens clothing. I know that if I am looking for a gift for a male, I can always find something at Banana Republic that will be perfect. Again, because of the classic look, the style of clothing BR sells is appropriate for a wide age range. I can be confident that whatever I buy for a guy will not make him look like he is fifteen. (Or eighty-five for that matter.)
5- Banana Republic has a good reputation. As a long standing company, BR has been able to provide clothing for decades. Any retailer with a well known reputation for quality items earns extra points in today's economy.
I have shopped at Banana Republic for at least six years, and will definitely continue to shop with them in the months and years to come. I know that when the time comes to purchase clothing items geared more toward the professional woman, I can walk through the doors of a Banana Republic and find exactly what I am looking for. Until then, I will continue to shop with them for "date outfits" and any other time I see fit.
1- Banana Republic always seems to have fashionable yet classic clothes. I do not claim to be incredible fashion forward, therefore this classic look always attracts me as a shopper.
2- You can always find something for any occasion. Whether I am looking for an outfit to wear on a date, or a cute dress to wear to a party, I know Banana Republic will have something appropriate.
3- Lasting quality. I have never been disappointed by a purchase from BR. The clothes they sell hold up well and last for years.
4- They have fashionable mens clothing. I know that if I am looking for a gift for a male, I can always find something at Banana Republic that will be perfect. Again, because of the classic look, the style of clothing BR sells is appropriate for a wide age range. I can be confident that whatever I buy for a guy will not make him look like he is fifteen. (Or eighty-five for that matter.)
5- Banana Republic has a good reputation. As a long standing company, BR has been able to provide clothing for decades. Any retailer with a well known reputation for quality items earns extra points in today's economy.
I have shopped at Banana Republic for at least six years, and will definitely continue to shop with them in the months and years to come. I know that when the time comes to purchase clothing items geared more toward the professional woman, I can walk through the doors of a Banana Republic and find exactly what I am looking for. Until then, I will continue to shop with them for "date outfits" and any other time I see fit.
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