• 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)

    The Primary Sector * The primary sector is all to do with obtaining raw materials. To obtain the raw materials they would have to extract the raw material from their natural mineral. E.g. if you pulled a flower out from soil, the soil would be the natural mineral and the flower the natural material.

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

    supplier but if this affects the quality shareholders would not be happy. This means they need to work hard to find low cost products with good quality, and they may have objectives to find suppliers who can offer the same quality but at lower prices.

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

    some 5% down on the steadily rising gross profit on cost % of Marks and Spencer. PRODUCTIVITY Sales per Employee (�) sales = � No of employees This ratio is useful in measuring the productivity of the employees in a business.

  2. Identifying the customer needs at marks and Spcner

    Test Marketing is another form of Market research. This method of research involves testing a product by selling the product in the market to asses' customer's reactions. This method of research is not used by Marks and Spencer. The reason for why this method of research is not used by Marks and Spencer is because they do not use this method of research.

  1. History Of Tesco.

    are no longer personally liable for their debts. Instead their liability is limited to the amount of their investment. The abbreviation 'Ltd' has to be part of the name of the business. If the business fails, the owners do not go bankrupt.

  2. As a student at Challney High School for Boys, my task is to decide ...

    Disadvantages 1) There is a limit on the size on which they can grow 2) Partners in the business could argue amongst each other about the control of the business 3) A death of a partner can lead to the end of the partnership.

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

    Asda has appeared in court after an employee slipped on an ice-covered floor in a storage freezer at the retailer?s Barnsley store. Barnsley Magistrates? Court heard that the worker suffered knee injuries and had to take several months off work.

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

    Preston manor does surveys with parents during parent evenings, plus the school is introducing surveys on their website so there is a wider range of research methods used to collect information and it will improve the response rate. Evidence is available on the interview I done with Mr. Rigby (Q6).

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