The retailer I choose to analyze for my blog is Circuit City. Like so many others I was stunned to find out one of my favorite retailers filed for bankruptcy. Not jus for the fact that I've never witnessed a huge retailer closing like that but because it hit home that or nation is really being affect by this economic crisis.
According to redorbit.com Circuit city filed for bankruptcy on Nov. 3rd 2008. Before doing so the company closedd 155 of their stores put 17% of their workers out of a job. Fter trading this article their assumption for the 59 yr old retailer to claim bankruptcy is plunging consumer spending due to the economy. On CNNMoney.com they state the same reasons besides the economic meltdown most consumers face they also dont trust spending large amounts on electronics like Flat screens or computers (some of the retailers money making selections) because theyre unsure if the company will completely fold leaving them with lifetime warranty's for things that cant be replenished.
In my opinion besides the obvious reasons of failing I believe the company didn't prepare themselves for such a tragedy. I dont't think most retailers believed the recession would be so detrimental to their businesses.
Tuesday, March 3, 2009
Thursday, February 12, 2009
Blog 3
Innovators are successful, sophisticated, take-charge people with high self-esteem. They are change leaders and are the most receptive to new ideas and technologies. Innovators are very active consumers, and their purchases reflect cultivated tastes for upscale, niche products and services.
Thinkers are motivated by ideals. They are mature, satisfied, comfortable , and reflective people who value order, knowledge, and responsibility. They tend to be well educated and actively seek out information in the decision-making process
Motivated by the desire for achievement, Achievers have goal-oriented lifestyles and a deep commitment to career and family. Their social lives reflect this focus and are structured around family, their place of worship, and work.
Experiencers are motivated by self-expression. As young, enthusiastic, and impulsive consumers, Experiencers quickly become enthusiastic about new possibilities but are equally quick to cool. They seek variety and excitement, savoring the new, the offbeat, and the risky.
Believers are motivated by ideals. They are conservative, conventional people with concrete beliefs based on traditional, established codes: family, religion, community, and the nation.
Strivers are trendy and fun loving. Because they are motivated by achievement, Strivers are concerned about the opinions and approval of others. They favor stylish products that emulate the purchases of people with greater material wealth.
Makers are motivated by self-expression. Makers are practical people who have constructive skills and value self-sufficiency.
Survivors live narrowly focused lives. With few resources with which to cope, they often believe that the world is changing too quickly. They are comfortable with the familiar and are primarily concerned with safety and security
After doing my survey online I scored as an experiencer. I definently agree with the summary they gave, and the information is very accurate.
Thinkers are motivated by ideals. They are mature, satisfied, comfortable , and reflective people who value order, knowledge, and responsibility. They tend to be well educated and actively seek out information in the decision-making process
Motivated by the desire for achievement, Achievers have goal-oriented lifestyles and a deep commitment to career and family. Their social lives reflect this focus and are structured around family, their place of worship, and work.
Experiencers are motivated by self-expression. As young, enthusiastic, and impulsive consumers, Experiencers quickly become enthusiastic about new possibilities but are equally quick to cool. They seek variety and excitement, savoring the new, the offbeat, and the risky.
Believers are motivated by ideals. They are conservative, conventional people with concrete beliefs based on traditional, established codes: family, religion, community, and the nation.
Strivers are trendy and fun loving. Because they are motivated by achievement, Strivers are concerned about the opinions and approval of others. They favor stylish products that emulate the purchases of people with greater material wealth.
Makers are motivated by self-expression. Makers are practical people who have constructive skills and value self-sufficiency.
Survivors live narrowly focused lives. With few resources with which to cope, they often believe that the world is changing too quickly. They are comfortable with the familiar and are primarily concerned with safety and security
After doing my survey online I scored as an experiencer. I definently agree with the summary they gave, and the information is very accurate.
Sunday, February 8, 2009
History of H&M
H&M aso know as Hennes Mauritz was founded by Erling Persson. Persson opened Hennes which oly supplied women clothes. In 1968 he bought Mauritz Widfross, a hunting store that only sold men clothes. He combined the names also the women and men clothing and H&M was born. The first Hennes store was opened in Vasteras, Sweden in 1947. They employ about 73,000 and operate 1700 stores in 33 countries. Their business concept is to offer fashion and quality at the best price. Their goal is to ensure that the business is operated with the minimum use of resources and with as little impact on the environment as possible.
My favorite retailer
My favorite retailer is H&M. I love their clothes and the prices are extremely reasonable. The clothes are very funky and very fashion forward. They have clothes for all generations, styles, and events. My obsession went so far as me working their for almost a year. My experience taught me so much I even had the opportunity to do visual work for a few maniquins on display. To sum it up H&M is original, cheap, and they rock !
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