Retail Mangement

Topics: Retailing, Department store, TJX Companies Pages: 7 (831 words) Published: September 22, 2014


Retail Management
Tommy Dunn
22036495
Project: 08001400
August 28th, 2014

Retail Management

Introduction
The main objective of this paper is to find out the strategic analysis, analyze store layout, design and visual merchandising as well as Internet retailing for our chosen retailer. I have chosen Ross stores as the company for which the research and analysis would be undertaken.

Strategic Analysis
Ross stores were first launched in 1982 with sic junior departmental stores and today the company has around 1000 stores. In 2011 the 1000th store was launched at San Francisco. In the fiscal year 2012 it was reported that the company had reached a historic sales $ 9.7 billion. Through its overall strategic planning and a planned action the company has expanded really quickly in just 20 years and become one of the favorite stores for the public (‘Retailing Strategy’). It is the third largest off-price retailer in the United States, behind T.J. Maxx and Marshalls, both of which are owned by TJX Companies. Products

Ross Stores, Inc. (RSI) is an off-price retailer, and sells apparels and home accessories. The company’s product portfolio includes apparel, accessories, footwear, lingerie, fine jewelry, fragrances, bed and bath products, home accessories, small furniture and furniture accents, educational toys and games, luggage, gourmet food and cookware, watches and sporting goods. RSI sells its products through 1,055 stores including 988 Ross Dress for Less (Ross) stores and 67 dd’s DISCOUNTS stores (“Ross Stores Inc”). Pricing

The company works on the policy of placing the prices 20% to 605 below the price of the market. The products are purchased at lower prices and then marked up less than a department or specialty store. This strategy makes it possible for Ross Stores to provide low prices to the customers consistently. Specific departments in the store are reviewed weekly for possible markdowns based on the rate of sale and the end of fashion seasons to promote faster turnover of merchandise inventory as well as speed up the flow of fresh merchandise. Distribution network

The organization is reported to have a source-based distribution network with a total of four distribution processing facilities that are advantageously situated close to the source of inbound merchandise receipt Increase in sales in comparison to competitors

Ross has stated a compounded annual sales growth which has been 7.9% during the period 2010 to 2013, which contrasts with its competitors Macy's (M) 5.0% growth rate and TJX's 5.7%

Store Layout, Design, and Visual Merchandising
The store layout uses bright, colorful décor to dress up their stores is a big leap towards attracting consumers. Consumers are usually not drawn into stores that are bland or dull, though color appears exciting and fun, therefore one is more apt to enter into the bright colorful store versus the dull, plain store. The layout of the store however, is not as spacious as one would appreciate. The appearance of the store gives a feel that Ross’s goal with the lay-out of the store is to get as much merchandise visible as possible. There are signs that hang from the ceilings that indicate the different departments such as: children, women, men, home furnishing.

The stores are designed for customer convenience in their merchandise presentation, dressing rooms, and checkout and merchandise return areas. The store’s sales area is based on a prototype single floor design with a racetrack aisle layout. A customer can locate preferred departments by signs displayed just below the ceiling of each. There is a self-service atmosphere.

Internet Retailing
Internet Retailing is the most groundbreaking...

Cited: "Ross Stores Inc." The New York Times. N.p., 27 Mar. 2014. Web. 27 Mar. 2014. .
"Retail Strategy." Warrington College of Business Administration, n.d. Web. 2 Aug. 2014.
Ross Stores. N.p., n.d. Web. 2 Aug. 2014. .
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Retail Essay
  • Retail Banking Essay
  • retail merchandising Essay
  • Essay about Retail Manager Profile
  • Retail Sector-India Essay
  • Organizing Traditional Retail Essay
  • Retail Operations in Banking Essay
  • Retail Store Design: Creating a Powerful Store Image Essay

Become a StudyMode Member

Sign Up - It's Free