Retail - McGraw-Hill Introduction to Business

Companies Cut Back on “Endless Options” Strategy

November 19, 2024

Hormel makes 71 different kinds of pepperoni. In addition to the widely popular original pepperoni slices, grocery shoppers can also choose diced, thick-sliced, mini-sliced, low-sodium, low-fat, turkey pepperoni, and more. The spin-offs may not sell as well as the original, but they do help to attract customer attention for the overall brand. More products mean more shelf space at stores, which gives customers more opportunities to find and buy Hormel products. The company also hoped this strategy would make shoppers Continue reading →

Packaging, Product Distribution, Food & Drink, Supply & Demand, Product Development, Branding, Marketing, Promotions, Operations Management, Retail, Supply chains

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion

[VIDEO] Why Walgreens And CVS Are Shutting Down Thousands Of Locations

October 24, 2024

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Walgreens and CVS stores are common sights on American street corners, but in the coming years there will be significantly fewer of them around. The video below takes a detailed look at the recent struggles faced by U.S. pharmacy chains as they plan to shut down thousands of locations nationwide.

Questions:

Why are Walgreens and CVS closing thousands of stores over the coming years? What are some factors that have contributed to their problems?
How can entrepreneurs help prevent “pharmacy deserts”?

U.S. Port Strike Ends Quickly but Could Come Back

October 11, 2024

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Over the last few months, companies around the globe kept a close eye on American ports as a key union agreement neared its expiration date. The International Longshoremen’s Association, a union representing 50,000 members, demanded wage increases that met resistance from management. Unable to reach an agreement, the union went on strike at the beginning of last week.

But not for long. Just three days after longshoremen at East and Gulf Coast ports walked out on their jobs, employers represented Continue reading →

[VIDEO] 7-Eleven Reshapes Its American Food Operations to Be More Japanese

August 7, 2024

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For hungry American consumers, 7-Eleven isn’t the place to go if you’re looking for a variety of options. While the chain serves plenty of Slurpees, pizza, and hot dogs, that is about the limit of its domestic menu. But Japanese consumers have a different experience with 7-Eleven, which offers a wide assortment of fresh items ranging from tasty baked goods to rice balls and ramen. This video examines how 7-Eleven works in the Asian nation, and why the company wants Continue reading →

Retail, Marketing, Japan, Operations Management, 7-Eleven, Global, Food & Drink, Supply & Demand

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution

Amazon Earns $14.2 Billion in Sales on Prime Day

July 26, 2024

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Retailers once considered July to be a slow month as regular customers spent their money on travel and other activities rather than shopping at local stores. Then Amazon created Prime Day, a 48-hour sales event that turned the middle of July into a bonanza of consumer cash for the e-commerce giant. This past Prime Day was Amazon’s biggest yet, with the company racking up $14.2 billion in sales over the course of two days last week, an 11 percent increase Continue reading →

Inflation, Prime Day, Promotions, Retail, Pricing, Marketing, Amazon, E-commerce, Supply & Demand

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

[VIDEO] Why Gold Is More Valuable Than Ever

May 29, 2024

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Demand for gold has been rising across the globe, defying economists’ expectations and sending prices soaring to new heights. The video below looks at how the gold trade has changed in recent years as everyday consumers enter the market alongside major investors. Costco, for example, sells $200 million worth of gold bars every month to members on the lookout for what they consider to be stable investments.

Questions:

Why have gold prices been rising across the globe recently?
Do you Continue reading →

Retail, Marketing, Global, Product Distribution, Commodities, Supply & Demand, Costco, Gold

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 19: Securities Markets, Chapter 20: Money and Financial Institutions, Videos

[VIDEO] Shein’s Controversial Business Model Keeps Prices Low

December 1, 2023

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The Chinese e-commerce giant Shein (pronounced Shee-In) controls more than 40 percent of the U.S. fast fashion market, with more than $8 billion in sales last year. This video explores how the retailer consistently churns out cheap shirts and dresses, which includes accusations of labor exploitation that has tarnished Shein’s image with some shoppers.

Questions:

How does Shein’s “small batch” production strategy differ from other clothing companies?
How has Shein tried to recover its reputation with U.S. consumers? Do Continue reading →

Black Friday Crowds Increase as Spending Drops

November 29, 2023

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The annual sales bonanza known as Black Friday now lasts for much longer than 24 hours, beginning in the days before Thanksgiving and continuing on through Cyber Monday. And while a record number of American consumers turned out at stores to check out this year’s bargains, they didn’t exactly spend a lot of money. According to data from the National Retail Federation, an estimated 200.4 million people shopped over the five days after Thanksgiving, amounting to more than 60 percent Continue reading →

Holidays, Cyber Monday, Supply & Demand, Sales events, Promotions, Retail, Pricing, Marketing, Product Distribution, Black Friday, E-commerce

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

[VIDEO] How Target Uses Its Stores as E-commerce Centers

November 17, 2023

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With nearly 2,000 stores across the U.S., more than 75 percent of Americans live within ten miles of a Target. These brick and mortar locations have become surprisingly valuable assets for the company’s e-commerce business, with more than 95 percent of online orders originating from Target stores. This video goes into detail about the retailer’s logistical operations, including the local sortation centers Target is investing in to keep up with increasing demand.

Questions:

How does Target utilize nearly 2,000 Continue reading →

Transportation, Product Distribution, Target, E-commerce, Logistics, Supply & Demand, Product Development, Retail, Supply chains

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media, Videos

Product Returns Drive a Multi-Billion Dollar Resale Industry

August 30, 2023

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America’s biggest retailers have often embraced product returns as a key aspect of their business, starting with J.C. Penney and his namesake company in the early 20th century. Allowing customers to return any product with no questions asked, other big companies like Walmart and Amazon would go on to follow his example in the years to come. “It’s a hallmark of successful American retail,” said Dale Rogers, business professor at Arizona State University. “If you make it easy to shop, Continue reading →