Question

The world of retailing has changed a lot with technology. In the past few years, several major retailers have closed brick and mortar operations or significantly reduced the number of brick and mortar outlets open.

Select a retailer that you have an interest in that currently operates with brick and mortar (onsite locations).

Describe the current climate and situation that your retailer finds itself in as it attempts to compete.

Describe what is occurring in the industry. All of this information should be cited using proper APA format (in-text and end-of-text citations).

Discuss what the retailer is doing well (strengths) and what are some of its weaknesses. You may conduct research here to support your opinions.

Do you expect this retailer to continue to maintain a brick and mortar presence? If yes, why? If no, why?

What recommendations do you have for the retailer?

This paper will be evaluated on:

quality of research into industry

thoughtfulness and thoroughness with regards to strengths and weaknesses

the quality of support for ideas

quality of recommendations and support for these recommendations

formatting of the paper

writing mechanics

citations

Answer 1

We hear about several retail store buyouts & closures, & there appears to be an overall loss of confidence in physical retailing. However, there are some retailers which aren’t just surviving in these turbulent periods but are actually thriving.

Off-price retailer TJX, is flourishing & growing. According to the Wall Street Journal, ‘It obtains nearly all its sales from its 3,800 physical locations & intends to open an additional 250 outlets in the near future. Its revenue and level of profits are escalating , & it envisions expanding to 5,600 outlets globally in the time to come.

Sales at TJX have been augmenting for past many quarters now, & the firm’s annual sales are greater than J.C. Penney & Nordstrom combined.

How does TJX manage this? 2 things- it moves swiftly, & it empowers its purchasers to make decisions themselves. It has over 1,000 purchasers, each controlling millions of bucks & are provided the authority to ‘slash deals on the spot.’ This is in contrast with other departmental outlets that take weeks to review & ratify orders.

Once the deals are done, the firm makes sure that new goods reach the sales floor as early as possible. There is an inhouse mantra at TJX - ‘Door to the retail floor in twenty-four.’

The outcome? TJX always has a fresh collection of merchandise which keeps purchasers on a continual ‘treasure hunt.’ Consumers know that great products go fast at T.J. Maxx, so they tend to purchase on the spot.

This ‘treasure hunt’ experience attracts persons to keep coming back. There is a feeling of excitement in knowing that one can get a great deal whenever one walks into a T.J. Maxx outlet.