Summary
Every November 27th a traditional shopping day called Black Friday, thousands of Amercians head out to stores early in the morning just to be the first to lay their hands on heavily discounted merchandise. Amercians take this very seriously, last year a Wal-Mart emplyee was trampled to death. It is a time of the year when retailers profit the most for the year. It also is a time that marks the start of many retailers attemps to regain businesses. E-tailers was very popular in 2008, online sales grew by 13% where as retail sales only grew by 1%. Amazon's sales rose to around $5.5 billion in only the third quater of the year, which is 30% more then last year. The reason is because online shopping enables people to compare prices across retailers quickly and easily. Buys are also able to avoid local sales taxes and shipping is often free. Also many online retailers has provided a range of items available. Amazon has started sellin groceries. This is a big concern to retail store because their prices are often higher than those of e-tailers. Online sales rise 9% in the 9 months to the end of October while sales in stores fell by 19%. People need to be more aware of this, thats why popular Amercian department store Macy's came up with the idea of every dollar a consumer spends oline with Macy's leads to $5.70 in spending at a Macy's store within ten days. Now lots of online retailars offer options that lead people to outlet stores. Now that retailers are aware, they're trying to make shopping seem more fun and exciting, stores are trying to lure customers by offtering services that are no available online.
Connections
Online retail is a nonstore retailer but in the book online retail is not mentioned because it wasn't created when the book was published. E-tailers is a nonstore retailer thats operations offer goods or services for a sale without line-ups or restricted store hours. Online retailers are available 24/7 and allows consumers to purchase merchandise without needing to leaving their house. Online retailers that were mentioned in the artible include: Amazon, P&G and eBay. During Black Friday more stores are under the catagory of general stores. They are stores that carries single brands of a wide variety of necessities, from grocery and clothing items to handware, tools and building materials. General stores that were mentioned in the article include: Apple, Wal Disney Company, Lululemon athletica and Best Buy.
Reflection
Wow, I never realised how much a day like Black Friday could affect so many different areas in the retail industry. I never though that it could affect online retailers and how online retailers affect retail stores. I think it is a good idea for retail stores to start luring customers by offering services that are not available online. Especially since many teens can't buy merchandise online, now they get more then just what's seen online. Idea's "pop-up" stores is a very interesting idea, te idea of a store that appears for a short time and then vanishes. Another cool idea is the one Lululemon athletica has offering free yoga classes. Thats a good deal to many yoga lovers out there. This articles makes me want to buy a lot of things just to get those free offerings that come with it. Their idea to bring people back to its shops regularly, increasing the likelihood that they will develop the habit of shopping there is a very clever idea. Not only is it a benefit to retailers, also a benefit for consumers.
I never knew that online retailing would effect in store retailing as well! Its surprising how people like to shop online rather than shopping in stores.I must say that offering free yoga classes is a very great idea,especially for the people who does yoga very often.Its very tragic how the Amercians take this discounted event so serious,like last year a Wal-Mart emplyee was trampled to death. This Bleak Friday must be the buggest event of the year in America.
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