Major retailer open doors on thanksgiving
In the video provided by NBC titled Major retailer open doors on thanksgiving, explains how the trends of what should be a family oriented holidays are becoming holidays for shopping. Stores such as K-Mart, Wal-Mart, Target and now Macy’s are keeping their doors open to latter hours on holiday days such as Thanksgiving and Christmas. During the holidays the stores distinguished above also implement higher sales and better deals for the consumer. Why? Because people like to shop. However, when a government shutdown takes place it affect the outcome of shopping, even during great sales. Due to the recent government shutdown in 2013 consumers are staying that they will shop less next year due to anxiety and fear of shutdown and the negative effects that arise from it. Not all shoppers are so enthusiastic about the late open door policy. Why? An intervened consumer by NBC have stated that the holiday should be family oriented and not so focused on shopping.
First let’s take a look at the following chapters and examine how they can relate to the predicament stated above.
What is Strategy and why is it Important (Chapter 2)
The present situation: In the case above it relates because it’s a holiday and people love to shop.
Future Vision: Stores such as Macy’s are take advantage of the additional sales that could be generated from consumers during holidays.
Competitive advantage: Consumers are looking for better deals and the shopping corporations are providing the shopper with every essential need that would want to make him or her spend their money in the store.
Taking a deeper look at the strategy followed by the present situation, future vision and competitive advantage will allow us to see why these relations are important to the topic discussed above. The strategy according to the book, the how’s of strategy are outcompete rivals, how to go with what the economy and market needs how to improve financial and market performance. How would this relate to the topic above? Companies are looking to increase profits and since people are willing to spend their money when they see a sign that says 50% off than the retailer shall establish a way to take it. Holding special sales for holidays is a strategy that been suppressed by the marketing advisers during the entire year and when it’s time for a holiday like Thanksgiving or Christmas the big guns of sales and late open doors till the wee hours are established to promote better sales and profits for the retailer.
Motivation is also used by retailers to encourage shoppers in spending money. Marketing managers spend much time trying to figure out how to utilize the best space, time and eye grabber that can influence a shopper to buy their desired product or switch to another product. Motivation can be used in product design, logo and promotional flyer signs that shop introduce to buyers so they can encourage sales. As it has been noted in the book, Motivation is one of the key factors that can distinguish a retailer from others to gain high profits and distinguishability.
Finally we must not forget where technology has brought us and in this day…