Location, Location, Location

I have no idea why I'm picking this store, but Lowe's on Battleground at Pisgah Church annoys me to no end.

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Google map image of 3001 Battleground Ave.

There are pros and cons of this particular location.

Pros:

• Very visible and convenient location
• More traffic passing by than Home Depot on same side of Greensboro.
• Not a lot of competition near-by.
• Pedestrian traffic could be possible.
• Neighborhoods behind location could mean foot traffic because of convenience.

Cons:

• Only one way in and one way out. The layout of the parking lot and the entrance/exit at stop light make it not a quick way to exit.
• Home Depot may be a bit out of the way, but it has much more parking than Lowe's.
• Because the parking lot is so small, even when they are only semi-busy, it looks extremely crowded and could deter customers from stopping.
• Even though pedestrian traffic could be possible, the traffic on Battleground makes it almost impossible.

I think the location is convenient, but it could be better if there was another way in and out of the parking lot and more parking space in the lot.

Failing retailer

Many retailers are lining up to become the next victim of the crappy economy. Some retailers may be feeling the effects, but they are surviving. A lot of retailers are not so lucky. The stores on the failing list really should not be a surprise. Customers are scarce, inventory is thin, and customer service is either really bad or non-existent.

I cannot remember the last time I actually went into a Goody's store. I do not remember ever shopping in one where there were a lot of customers. I have only heard one or two people say they actually shop there and I'm always asking if that store is still open. Not a good sign at all!

According to an article in New York Post on January 5 of 2009, the prediction over the Christmas holiday was that Goody's would soon be affected by the failing economy. Goody’s was owned by Prentice Capital Management that filed for Chapter 11 a few months earlier (http://www.nypost.com/seven/01052009/business/store_warnings_147210.htm).

According to an article troymessenger.com, Goody's noted in their bankruptcy protection request that there were numerous, but isolated stores that needed to be closed due to lower sales. They also stated that there was "strain on merchandise flow" meaning that obviously the inventory turnover was not nearly enough to save the company (http://www.troymessenger.com/news/2009/jan/07/goodys-going-out-business/).

Obviously the crappy quality of the clothing at Goody's, the empty stores, and higher numbers of low performing stores than stores with sales all contributed to the downfall of Goody's, yet another victim of what is turning into game of win or lose in retail.

Target audiences and segments

  The target market for the Ann Taylor shopper, the profile that we came up with would probably fall under believers, innovators, and maybe achievers.  There are parts of each of those that have the descriptions that we had for our shopper.

  

  In the textbook, it mentions that retailers are realizing that categorizing people by demographics turns out to be inaccurate and may miss (or include) target markets they may have wanted (or not).  Depending on what type of product the retailer is selling, groups can be broken down by demographics or be on a broader or more selective level.

Targeting ONE type of consumer is risky.  In our Ann Taylor profile, our "typical" shopper is an older, successful, classic not trendy mother.  I am none of those things.  I have bought things at Ann Taylor just because they are nice clothes.  The clothing used to be much more conservative, but it seems now that they are widening their focus group to include a bit younger customers.

As far as my results (below) for the most part it is accurate.  There are a few things that are way off, but I don't really fit any "standard" that is generally set.

• Welcome to VALS™ • The VALS™ Types • More about VALS™ • GeoVALS™ • VALS™ Survey • Survey Help / VALS™ FAQ • VALS™ Brochures • Publications Striver/Achiever Your primary VALS type is Striver, and your secondary type isAchiever. The primary VALS type represents your dominant approach to life. The secondary classification represents a particular emphasis you give to your dominant approach. Want to learn more about VALS™? Get our Understanding U.S. Consumers handbook. http://www.sric-bi.com/VALS/types.shtml

Sephora's Story

Sephora is the toy store for anyone interested in makeup, perfume, and beauty products in general.  It's no wonder that the company that owns Sephora is worshipped by those same people; LVMH.  

Beginning as a lone fragrance shop in France by Dominique Mandonnaud in 1969, the intention was to have a fragrance store that was self service instead of having more staff than products.  The 1970's proved to be a decade of change for Mandonnaud.  Creating new fragrance stores with a different retail model and approach to the typical store.  Mandonnaud decided to include cosmetics along with the existing fragrance selection (http://www.answers.com/topic/sephora-holdings-s-a).

The "Shop 8" stores continued to expand and open other stores.  The "Sephora" brand was exclusively at Boots (a UK retailer) and was purchased by Shop 8 in 1993.  The chain of stores took on the Sephora brand name.  In 1997, LVMH acquired Sephora that consisted of 75 fragrance stores.  In 1998, the US became the target for a new market and New York saw the first international strore.  In 2003, a change was implemented with the brand "Sephora" cosmetics being sold exclusively (http://www.answers.com/topic/sephora-holdings-s-a). 

Favorite Retailer and Why

http://sephora.com/help/stores/controller.jhtml?store=C9153&dir=openings

My favorite retailer is Sephora.  Not the Sephora counter in JC Penneys (which I hate BTW), but the actual store and website.

The first time I walked into a Sephora store was in Charlotte.  The girl that greeted me was laughing a bit because I looked like a little kid on Christmas morning.   I didn't know where to start.

Even though every store is basically the same layout, there are some differences.  However, I love the fact that every Sephora I've been to is very bright, very clean (more like spotless), and the sales staff is always extremely helpful.

I love the products at Sephora.  They are a bit higher end than most cosmetic stores, but the quality of said products is worth the money.  Dior mascara is worth being 4 times as much as Maybelline.  Not everybody can shop there and not everyone does.

I love that the staff has to know the products.  I can't use just anything because of my skin type and they can give me several different options without seeming to promote one line over another because of price.  They even wear the makeup so I've been able to see options and asked what they were wearing.  I would have never looked at those products otherwise.

Most of the time a customer service rep at an 800 number isn't very helpful or very happy to be doing their job.  I had to call to ask a question because I couldn't find what I was looking for on the website.  The girl was very nice and helpful and didn't seem to be bothered because she had to do her job.

Sephora also offers perks for the regular customers.  There is a points card, the have birthday "gifts" and they offer discounts and certain products only to the card holders.  Even though other place do the same, for some reason what Sephora does seems different.  Maybe I'm just partial to them. :)

Since Ulta moved in at Friendly, the rumors of a Sephora in Greensboro have stopped.  Even though they target an entirely different market, Ulta would get the business.  They are the "Wal Mart version" of Sephora.  They have a lot of the same stuff except Ulta carries products that you can also get at Target and the supermarket.  I would rather have Sephora any day!

Home fashions

I don't know how home fashions could do well in an economy we have now.  People are staying home more so they notice they need change, but if they can't afford the homes that they are in b/c they took a mortgage they knew they couldn't pay for then there is no way they would be buying anything major for said home.  

Smaller purchases like linens, towels and maybe smaller rugs I could see doing ok.  Some people are willing to splurge on good linens since they last for so long.  And since a lot of people can't really afford to do much outside of the necessary spending they might as well have things that can make them more comfortable staying home.

guest speaker 11/14

I actually like this guest speaker (as opposed to that Sarah Jane woman).  What I learn is that I should have already started looking for an internship.  I also learned that her job is something I would have never thought about.  It seems interesting and not the usual retail job that comes from this major.  I actually am thinking of looking into her field to see what is out there.