• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Describe the retail environment in the local area.

Extracts from this document...

Introduction

Task 1 Describe the retail environment in the local area. Retailers exist to provide a service to customers with the intention of making a profit. Retailing is one of the most important industries in the UK one that is used by thousands of people every day. It employs around 15% of the workforce with more the 280,000 brick and mortar. The scope of the industry has rapidly expanded, retailers have grown into some of the world's largest companies e.g. Tesco which are operating in Beijing as well as the UK. Retailers can be defined in five ways: Product range Store type Store location Ownership Size Product range Product range can be described into hybrid, department and specialists stores. A specialist store is a shop that caters to one specific retail market. Examples of specialist stores include camera stores, pharmacies, stationers and bookstores. Specialist stores compete with other types of stores such as department stores, general stores, supermarkets and variety stores. Specialist stores can be part of a retail chain, but independent specialist stores are also common. Like Top Shop they only sell cloths nothing else. Hybrid stores are stores that sell a mixture of products like PC world they sell PCs, software, mp3 player and hardware. ...read more.

Middle

Independent retailers are retailers who own less than 10 brick and mortar such as lush in Croydon. The market share and number of independent retailers have been declining for many years, particularly in food sector as supermarkets have gained strength. Multiple retailers are retailers with more than 10 branches such as Marks & Spencer's, Argos, New Look, Primark and TK Max all located in Croydon. Some multiple retailers are classified as specialist stores such as Primark, TK Max and New Look all which specialize in cloths. Multiple variety chains like Boots and Marks and Spencer's offer a wide range of products. Voluntary chain retailers decide to buy 70% of their stock from wholesalers whose buying power allows them to negotiate lower prices with suppliers, this is because both parties establish relationship with each other and offer good will gestures shops like Primark, New Look and TK Max all based in Croydon. Franchised Retailers are granted selling rights in a geographical area; in return the franchisee pays a fee based on sales or agrees to but supplies from the franchisor, this is now a very popular method of retailing in the UK. ...read more.

Conclusion

Whitigift centre consists mainly of specialist (3g, Phones4u, Banks) and hybrid stores such as Boots who only sell pharmaceutical, optical and beauty products. There only one department store that is Debenhams. Centrale is regarded as a 'posh' shopping centre as all the big names are situated there ( House OF Frasier, Zara, Next) also more expensive shops like Pineapple, TK Max and La Senza. While walking in Croydon town centre I noticed that some shops are clustered as they have common passing trade. For example mobile phone shops and banks are located very close together because before buying a phone the customer may want to withdraw a large some of money. Take away and restaurants also seem to very close to each other this so that the customer doesn't have to walk around to find what they want they can take a glance and decide easily. I also noticed that H&M are opening its doors soon situated where the old Woolworths was. In conclusion I found that Croydon Town Centre is a retail environment which consits of outlets that tailors for everyone's needs and requirements. Those who have a high disposable income shop at Centrale and shops like Debenhams, Next and La Senza and those with lower disposable income shops like Primark, 99p store and Poundland. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Structures, Objectives & External Influences section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Structures, Objectives & External Influences essays

  1. Marked by a teacher

    ASDA's Ownership

    4 star(s)

    They don't tend to follow the trends as they aim to be different from other retailers and offer the best in customer services. (ii). The trends that are mainly affecting the business in particular are: * Increase to the UK spenditure * Increase to how much children spend * Income

  2. The Business Environment Coursework. Describe the type of business, purpose and ownership of ...

    They offer good value food at reasonable costs and are flexible to offer a range of services depending on what is needed from each site. Objectives of the strategy 1) Increase turnover 2) Increase profit 3) Increase the level of support they offer, more successful charity events for example 4)

  1. Identifying the customer needs at marks and Spcner

    However, there are some disadvantages that marks and Spencer face by using consumer panels one of which is that it can be difficult and expensive to keep a consumer panel for a long period of time. Test Marketing is another form of Market research.

  2. Classify the business according to its ownership, and explain the benefits and constraints of ...

    These savings will be reinvested in enhancing the customer offers, building sales and in improving our operating margins. Modernise Sainsbury's supply chain: Sainsbury's has played a major role on a major programme to modernise their supply chain by developing a network of new depots around the country.

  1. Sustainability in the Automotive Industry

    (although most member states missed this deadline). The requirements of the directive include: * Producers limit the use of certain hazardous substances in the manufacture of new vehicles and automotive components and promote the recyclability of their vehicles. * ELV's are subject to de-pollution prior to dismantling, recycling or disposal.

  2. Report composed of an interpretation of the ratios for Marks and Spencers and the ...

    However, in 2002 the result is healthier, with a net profit margin of 7.91%. The House of Fraser has a worrying net profit margin % of just 3% in 1999; this dropped further to 2.43% the following year. However, they seem to have turned things around slightly, with an increase of just over 1% in 2002.

  1. D2: Analyse the importance of legislative and regulatory controls on food retailers

    The company was fined £20,000 and ordered to pay £33,000 in costs, after earlier admitting offences under Section 2(1) of the Health and Safety at Work Act. Asda said it had spent £31,000 on repairs to the freezer since the August 2011 accident.

  2. Applied Business. Investigating a business Preston Manor High School

    School wants to aim higher than the national curriculum level, in order to become an outstanding school and the best in the Brent borough. New strategies are introduced to improve the teaching quality of Preston Manor. It is important the school focuses on the KS3 and improve the teaching quality the KS3 students receive.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work