This report has been submitted in response to a request from Yamashiro Kazuo, CEO of Yedo. The aim of this report is to describe and analyze the current situation in order to recommend future strategies. This report will cover the following areas: 1. Executive Summary
2. Current Situation
Today competition is one of the most vital problems in the world. This has changed the trends of shopping by Japanese. In this report, we suggest some important measures which will indeed help Yedo to improve their profits.
Yedo is a successful Tokyo based department store chain with six outlets in Japan and two more in New-york and London. It has an excellent reputation for high-quality goods. It has an outstanding service and large number of sales staff.
This report makes recommendations on how to maintain and increase the profitability of Yedo Department Store, which was founded in 1895 and has established itself as an outstanding business not only in Japan but also in London and New York.
For almost over 115 years of successful trading, yedo is struggling a difficult situation. As a result, the profits have felt sharply over the last year and its forthcoming situation is now questioned. Furthermore, it’s first six months of this year where not been as profitable as they expected. According to the research conducted we found out that the situation is mainly due to: * New entrances of foreign competitors like convenience stores, discount stores, specialty stores, foreign retail chains. * Yedo's stores are being observed as an old fashioned store.
It is unlikely that the current situation will remain stable. Therefore, measures are required in order to develop further strategies to improve their profits and sustain in the market.
According to the TWCB market report, the two mains problems are the...