Walgreens: Campus Friendly

The Walgreens located literally at the edge of campus at S. Aycock and Spring Garden St. is a free standing location , located within less than a mile of UNCG. Freestanding sites are for individual stores unconnected to other retailers. This is important given that Walgreens is a drug store. Its location needs to match with its target market and retail strategy. Therefore, it should be consistent with the shopping behavior of its customers, the size of the particular shopping market, and the position of the retailer in that target market.

As with anything there are advantages and disadvantages. As far as location I believe this Walgreens has a number of advantages, the biggest being its proximity in regards to campus. With it being so close to UNCG this location is extremely convenient. It draws in students very easily just for the fact of where it is located. Therefore, it not only has high traffic but also high pedestrian traffic. Students such as myself who do not own a car or may not have a car here in Greensboro, or just simply want to save on gas, find it easy to walk right near campus to get whatever it is that we may need. Being so close reassures the issue of safety and makes students, especially women, feel safer knowing that it is so close.

Other advantages for this particular location include its parking, visibility, and minimal restrictions. When this Walgreens was being constructed during the summer, parking and street restrictions were kept closely in mind. They made plenty of room available for parking and also reconstructed a part of Spring Garden St. to satisfy the entrance of the drugstore as needed making it easier for cars to come and go. With all of this in mind the stand alone store was also extremely visible in that anyone who attends, works, or passes by UNCG's campus can see the Walgreens on the corner clearly from all directions, as it helps that there is a major intersection there as well. For the most part it is also separated from large competitors such as Wal-mart, making it easier for customers to buy from that particular location.

However, there are some disadvantages as well. Seeing that it is a stand alone location that could also hurt the business. There is not much foot traffic since it is not located within a strip mall or shopping center or any other larger area with high traffic to draw consumers in. It mostly relies on the people in close proximity and college students which makes up the majority of their target market. In addition, there is a CVS practically right across the street that has already established its customers because its location has been there for quite sometime. Although it is on the edge of campus some people rather just save the time and spend more money on things they could get at a convenience/drugstore and buy it on campus in the EUC or the C-Store instead of going to this Walgreens.

Yet, overall i think a drug store located right outside of campus is a perfect idea. It is smart and convenient. Therefore, my concluding analysis would be that it is a great location. Regardless of the on campus amenities, most people are not willing to pay the price for what is offered on campus when you can take a few extra steps to save money, get exactly what you need, and get more bang for your buck. It is perfect because it has a pharmacy, photo lab, and everyday essentials. This makes it easier to get it all in one stop without having to go all the way to Wal-mart or Target and best of all give you the option to walk!

Circuit City: Another failed retailer

The closer of the nations second largest electronic retailer results in the loss of 34,000 employees, 567 store closings, and an approval to file bankruptcy as of January 2009 (CNNmoney.com). The number 2 electronics retailer next to Best Buy has agreed to start it's liquidation process. This company has made too many massive mistakes according to the CEO of Retail Management Consultants. With their decision to get rid of sales people and failure at management on top of a financial crisis, gives reason to why this company failed as a retailer.

With $3.4 billion in assets, $2.32 billion in liabilities and 150 broken leases by August the down fall to bankruptcy had begun. With the credit freeze no manufacture wanted to sell merchandise to a retailer who could not afford to pay for it.The slim chance that a buyer would want to, or even show interest in buying the business out of bankruptcy left Circuit City with no hope.

As early as 1990 Circuit City's brand value was already diminishing as it faced tougher competition from Best Buy, as they built larger stores in better locations and saturated the market. Not only did the company fall in the shadows of Best Buy but, the decisions to stop paying commissions to their experienced sales force and tight commercial credit gave way to the failure of the business as well. As they made more decisions to change management and store expansions, it resulted negatively. There were too many stores in unwise locations that were too big and impersonal. Their failed turnaround efforts led to less cash flow and more layoffs of employees. Their lack of innovation caused them to scum to the online sales of electronics and the boom of Best Buy, ultimately resulting in the flow restriction of merchandise, closing of stores, and liquidation of the company.

Circuit City's inability to adapt to the market and keep up with constant changing needs of consumers and the pace of their competitor,s gave way to the failure of one of the nation's largest electronic retailers. They became trapped in the middle as Wal-Mart moved into the electronic market continuing to implement their low price concept, while Best Buy dominated the industry. "Circuit City got stuck in the middle for too long" (Cohen, CNNmoney.com)


Article sources:
CNNmoney.com, P. Kavilanz, January 2009
Msnbc.msn.com January 2009

Target Audiences

Different retail stores have different target audiences based on where they are located, what they sell and who they want to shop in there stores. Target audiences are based on different segment markets such as demographics like age, gender, status, lifestyle and income and geographic like location and region. VALS segments are also important when it comes to retailers and their decisions regarding target markets and audiences. This is important because retailers cannot sell to everyone. This would cause confusion and an overload of merchandise in one location. Ultimately it would hinder sales and prevent the retailer from making profits. Therefore, different stores have different target audiences they prefer to market their merchandise to.

For example Victoria's Secret's target audience would be women between the age of 18-35 who care more about overall image and sexiness than comfort and ideal basics. They target people who do not mind spending a little more money on what one would think of as basics, to have more luxurious and sexy lingerie, something that is not a necessity. Their VALS segments fall under the self-expression category as their primary motivation. Most consumers that shop here are experiencers in that they are trendy and stylish but also risky, looking for variety and excitement and more concerned about being good looking and have cool stuff. They see shopping as a social activity and spend a good portion of their income on fashion.

Abercrombie & Fitch is a really good example of how retailers strategically target certain audiences for their specific line of products. Even if you are not a huge fan of A&F they have a solid foundation of customers regardless. They focus on young adults who possess beautiful lifestyles and beautiful bodies. Their ads do not even consist of their products, instead they advertise sex and good looking people. In doing so they are selling an actual lifestyle to consumers who are or want to be

perceived as good looking, than the actual product itself. If retail stores such as Holister, H&M, BeBe, Abercrombie & Fitch, and Forever 21 continue to evaluate their target markets and target specific audiences in particular, they will continue to do well in the retail industry. By focusing its resources on the young and trendy lifestyles they will create brand loyalty and continue to sell to those that fall into those categories.

After taking the VALS survey I found that my primary motivation for is self-expression and that my dominate consumer behaviors are those of an experiencer then on occasions I show interest in being a striver. To me it was accurate and I completely agree. As an experiencer I do follow fashions and trends as well as spend much of my income on socializing. I sometimes buy on impulse and am a heavy user of electronics and media. I believe this is true for me right now because at such a young age I have room to explore and experience and my income is not used for much besides my few needs and many wants. However, as a college student I fall into the Striver category because I am interested in image yet, my income is limited and is mostly spent on clothing and personal care products.

Est. 1984: How it all Began

Forever 21 was established in 1984 in Los Angles, California. The man behind the innovative phenomenon Don-Won Chang, is who we owe thanks to for the ever growing, popular source for the most current fashions at the greatest value. Surpassing the wonderful age of 21 Forever 21has been around for 25 years and has no intent of stopping soon.
Originally named Fashion 21, it all began on Figueroa St. with 900 square feet. On April 21st 1984 the first store was created, still in operation today, bearing its original name. By the end of its first year, sales had increased from $35,000 to $700,000. Later expanding its business at the rate of a new store every six months, the brand changed its name to Forever 21. In 1989 the year I was born Forever 21 opened its 11th store in Panorama City, CA, the first to be located in a mall. Now having expanded to 5,000 square feet this was only the beginning of the hundreds of specialty stores soon to be found in almost every major mall nation wide. After the opening of its first store outside of California in 1995 Forever 21 now had reached a total of 40 stores in just ten years.
Today with over 350 stores nation wide, Forever 21 has expanded drastically. Opening flagship stores in almost every major city in the U.S. it now averages at 24,000 square feet, almost tripling its original size. Its shop-in-shop concepts demonstrates its strength as a boutique and specialty retailer over their department store counterparts. By 1996 its revenue surpassed $1 billion dollars causing Forever 21 to be one of the top privately held companies in the U.S. Budgeting its expenses in advertising, there affordable merchandise and brand loyalty will keep Forever 21 growing, allowing the brand to expand even further reaching its full potential.
In just 25 short years my favorite retailer has become not only known but loved nation wide. The story of Forever 21 is not only innovative but inspiring as it motivates me to do and believe in all my future dreams and goals because life is promising. As simply stated at the bottom of all of their shopping bags, For God so loved the world, that he gave his only begotten Son, that whosoever beileveth in him should not perish, but have everlasting life. John 3:16

Favorite Retailer

Three roman numerals: XXI. If you have seen this and don't know what it stands for you have been living under a rock for the past five years and seriously need to come out if you care anything about your wardrobe. If you haven't guessed it, Forever 21 is my ultimate favorite retailer. It is nationwide and located in almost every mall in America, and growing. Some might say that it is so typical to shop there and only people with out creativity and style go there to stumble upon the latest trends. Yet, I completely disagree.

Even though the overall store layout may be kind of chaotic, customer service isn't all that great, and it does become difficult to find things most of the time, Forever 21 is my favorite retailer for none of those reasons. I love it so much because I am all about price. As the queen of cheap Forever is my throne! The primary reason why it has become my favorite retailer is because the prices are so low. Not only is it cheap, the styles are chic and current, it is a one stop shop, the clothes fit me perfectly, and it's variety allows me to be creative.

So, not only do I find a pair of the latest style of skinny jeans for only $12.50 I can also pair it with a cute vest and some boots without having to go to ten other stores and spend over $100. Since everything I need is located within the same place, I can try on multiple garments at once and spark up new ideas of what to pair it with right there in the store. Some may say everyone who shops here dresses alike but, with its ever changing variety, this wide selection allows millions of combinations of outfits, so different that no one will even notice you both own the same thing. At the same time, size does matter and if your like me it is so hard to find anything that doesn't fall off or swallow me whole. At Forever 21 I have never had a problem finding my size, in fact the clothes feel like they were made specifically for my body. This is what drew me to the store but, the great deals and fashions are what keeps me coming back. So I could go somewhere else where they wrap my purchase in tissue paper and ask me every five seconds how I'm doing, or I could buy cheap while still having enough quality and be in and out with everything I need in my yellow bag. So, without question, I will forever be 21!