Tuesday, March 17, 2009

Location, Location, Location

When I was at home this past weekend, I went to the local Harris Teeter near my house. I found this location perfect. It is surrounded by multiple neighborhoods and it is in a small shopping center. I think this helps shoppers come into Harris Teeter because they may be eating lunch and then remember something that you forgot to get at the grocery store. The shopping center is small enough that you can park your car and walk around. This Harris Teeter could be used as a spontaneous shopping. Just recently Harris Teeter did construction to make it the store bigger and added more checkout lanes for a more convenient and fast checkout. Since they did this Reconstruction I have not found any disadvantages with Harris Teeter. It attracts a lot of customers in three ways. One way is the surrounding neighborhoods allow a close drive to get groceries. The second way it attracts customers is with the local shops around to also help bring spontaneous shoppers into the grocery store. The last reason that this location is so good is because it is on the way to and from the city. Most people pass this Harris Teeter when going to or from work so they could stop and pick up dinner on the way. All in all I think this location of the Harris Teeter could not be in a better location.

Thursday, March 5, 2009

bankruptcy and the consumer

Over the past year the economy has been declining and digging itself deeper and deeper into a recession. That includes a lot of stores going bankrupt. Circut City announced bankruptcey on November 10, 2008. It was the number two electronics seller after best buy. However fast forward to the beginning of 2008 when stores were just beginning to announce that they were shutting down stores throughout the country. An article from CNN money stated "Consumers will be skeptical about buying a $1,000 or $2,000 flatscreen TV with a warranty at Circuit City," said Craig Johnson, retail analyst and president of Customer Growth Partners. "In their mind, there's no guarantee that the company will still be around in the future." Personally I think this is the main problem. When stores begin to announce that they are shutting down stores, consumers get scared and don't want to shop there anymore. I remember when my mom told me that Circut City was closing stores and told me to use my remaining gift cards for there because it will probably go bankrupt. Another souce cnet news also stated the same thing, that consumers get scared to make large commitments and decide not to shop at that store anymore. In my opinion I don't think there is anything Circut City or any other retailer that is about to go bankrupt can do because it was fully the consumers decision to stay away from the stores. The only thing they could have done differently would be to have a lot of promotions and be more finacially responsible.