Retail environment Essay
Product range can be described into hybrid, department and specialists stores. A specialist store is a shop that caters to one specific retail market. Examples of specialist stores include camera stores, pharmacies, stationers and bookstores. Specialist stores compete with other types of stores such as department stores, general stores, supermarkets and variety stores. Specialist stores can be part of a retail chain, but independent specialist stores are also common. Like Top Shop they only sell cloths nothing else. Hybrid stores are stores that sell a mixture of products like PC world they sell PCs, software, mp3 player and hardware.
A department store is a retail establishment which specializes in satisfying a wide range of the consumer’s personal and residential durable goods product needs; and at the same time offering the consumer a choice multiple merchandise lines, at variable price points, in all product categories. Department stores usually sell products including apparel, furniture, appliances, electronics, and additionally select other lines of products such as paint, hardware, toiletries, cosmetics, photographic equipment, jewelry, toys, and sporting goods. Like Debenhams in Croydon which is a big department store. Store Type
Store type can be broken down into Brick and mortar and click. Brick and mortar stores
Need essay sample on "Retail environment"? We will write a custom essay sample specifically for you for only $ 13.90/page
Local stores are stores that can be found by the public close to their homes e. g. off license and supermarket. Town centre store are stores that are located in Croydon because they are in the town centre. Out of town stores are located in out of town like superstores like Makro which is a wholesaler. Regional stores are located in one specific place only. Ownership The ownership of retail stores reflects the diverse nature of the industry. Ownership can be described in five ways: independent retailer, multiple retailer, voluntary retailer, franchised retailer and public sector.
Independent retailers are retailers who own less than 10 brick and mortar such as lush in Croydon. The market share and number of independent retailers have been declining for many years, particularly in food sector as supermarkets have gained strength. Multiple retailers are retailers with more than 10 branches such as Marks & Spencer’s, Argos, New Look, Primark and TK Max all located in Croydon. Some multiple retailers are classified as specialist stores such as Primark, TK Max and New Look all which specialize in cloths. Multiple variety chains like Boots and Marks and Spencer’s offer a wide range of products.
Voluntary chain retailers decide to buy 70% of their stock from wholesalers whose buying power allows them to negotiate lower prices with suppliers, this is because both parties establish relationship with each other and offer good will gestures shops like Primark, New Look and TK Max all based in Croydon. Franchised Retailers are granted selling rights in a geographical area; in return the franchisee pays a fee based on sales or agrees to but supplies from the franchisor, this is now a very popular method of retailing in the UK.
Well known brands such as Mc Donald’s, Pizza Hut, Subway and KFC are all based in Croydon and are franchises. Public sector stores government based organization that sells their products like the British museum, and Croydon library. North End is a pedestrianized road in Central Croydon which is the main equivalent to a high street in Croydon. The road holds both of the main shopping centres, Centrale and Whitgift Centre plus a forthcoming one called Park Place. The road offers many well-known shops such as WHSmith, Next, Zara and a large Primark.
North End was closed off to all forms of motor traffic in 1989, to entice shoppers to choose Croydon over its main south-east London rival Bromley. North End is the home of the only Allders left standing, after the company went into liquidation, which finally led to the collapse of the group apart from the Croydon flagship store which opened in 1862. This Allders is the fourth largest department store in Britain and boasts the largest carpet department in Europe. The Whitgift Centre is a large shopping centre and office development in the centre of Croydon, London, opened in stages between 1968 and 1970.
Also read essay on success factors of Woolworths
The centre currently comprises 1,300,000 sq ft (121,000 m2) of retail space and was the largest covered shopping development in Greater London until the opening of Westfield London at White City in October 2008. The Whitgift Centre will be expanded as part of the Croydon Vision 2020 scheme. Croydon Town centre is made up of two major shopping complexes Whitgift centre to the east and central to the West side of North End. Both consist of a range of shops from salons, restaurants, coffee (Starbucks, Cafi??
Nero) shops and opticians(Specsavers, Vision Express) and retail shops such as mobile phone stores(Vodafone, Orange, T-mobile), shoe shops and cloths shops (Zara, River Island). Each outlet has it own name, logo and image displayed on the window alongside promotions. All business in Croydon Retail environment can be divided into 3 of the following groups: Hybrid, specialist and department stores. Whitigift centre consists mainly of specialist (3g, Phones4u, Banks) and hybrid stores such as Boots who only sell pharmaceutical, optical and beauty products.
There only one department store that is Debenhams. Centrale is regarded as a ‘posh’ shopping centre as all the big names are situated there ( House OF Frasier, Zara, Next) also more expensive shops like Pineapple, TK Max and La Senza. While walking in Croydon town centre I noticed that some shops are clustered as they have common passing trade. For example mobile phone shops and banks are located very close together because before buying a phone the customer may want to withdraw a large some of money.
Take away and restaurants also seem to very close to each other this so that the customer doesn’t have to walk around to find what they want they can take a glance and decide easily. I also noticed that H&M are opening its doors soon situated where the old Woolworths was. In conclusion I found that Croydon Town Centre is a retail environment which consits of outlets that tailors for everyone’s needs and requirements. Those who have a high disposable income shop at Centrale and shops like Debenhams, Next and La Senza and those with lower disposable income shops like Primark, 99p store and Poundland.