Retail Mangement
Retail Management
Tommy Dunn
22036495
Project: 08001400
August 28th, 2014
Retail Management Introduction The main objective of this paper is to find out the strategic analysis, analyze store layout, design and visual merchandising as well as Internet retailing for our chosen retailer. I have chosen Ross stores as the company for which the research and analysis would be undertaken.
Strategic Analysis Ross stores were first launched in 1982 with sic junior departmental stores and today the company has around 1000 stores. In 2011 the 1000th store was launched at San Francisco. In the fiscal year 2012 it was reported that the company had reached a historic sales $ 9.7 billion. Through its overall strategic planning and a planned action the company has expanded really quickly in just 20 years and become one of the favorite stores for the public (‘Retailing Strategy’). It is the third largest off-price retailer in the United States, behind T.J. Maxx and Marshalls, both of which are owned by TJX Companies.
Products
Ross Stores, Inc. (RSI) is an off-price retailer, and sells apparels and home accessories. The company’s product portfolio includes apparel, accessories, footwear, lingerie, fine jewelry, fragrances, bed and bath products, home accessories, small furniture and furniture accents, educational toys and games, luggage, gourmet food and cookware, watches and sporting goods. RSI sells its products through 1,055 stores including 988 Ross Dress for Less (Ross) stores and 67 dd’s DISCOUNTS stores (“Ross Stores Inc”).
Pricing
The company works on the policy of placing the prices 20% to 605 below the price of the market. The products are purchased at lower prices and then marked up less than a department or specialty store. This strategy makes it possible for Ross Stores to provide low prices to the customers consistently.
Tommy Dunn
22036495
Project: 08001400
August 28th, 2014
Retail Management Introduction The main objective of this paper is to find out the strategic analysis, analyze store layout, design and visual merchandising as well as Internet retailing for our chosen retailer. I have chosen Ross stores as the company for which the research and analysis would be undertaken.
Strategic Analysis Ross stores were first launched in 1982 with sic junior departmental stores and today the company has around 1000 stores. In 2011 the 1000th store was launched at San Francisco. In the fiscal year 2012 it was reported that the company had reached a historic sales $ 9.7 billion. Through its overall strategic planning and a planned action the company has expanded really quickly in just 20 years and become one of the favorite stores for the public (‘Retailing Strategy’). It is the third largest off-price retailer in the United States, behind T.J. Maxx and Marshalls, both of which are owned by TJX Companies.
Products
Ross Stores, Inc. (RSI) is an off-price retailer, and sells apparels and home accessories. The company’s product portfolio includes apparel, accessories, footwear, lingerie, fine jewelry, fragrances, bed and bath products, home accessories, small furniture and furniture accents, educational toys and games, luggage, gourmet food and cookware, watches and sporting goods. RSI sells its products through 1,055 stores including 988 Ross Dress for Less (Ross) stores and 67 dd’s DISCOUNTS stores (“Ross Stores Inc”).
Pricing
The company works on the policy of placing the prices 20% to 605 below the price of the market. The products are purchased at lower prices and then marked up less than a department or specialty store. This strategy makes it possible for Ross Stores to provide low prices to the customers consistently.
Cited: "Ross Stores Inc." The New York Times. N.p., 27 Mar. 2014. Web. 27 Mar. 2014. . "Retail Strategy." Warrington College of Business Administration, n.d. Web. 2 Aug. 2014. Ross Stores. N.p., n.d. Web. 2 Aug. 2014. .