This is a brief report that discusses the impact of Supermarkets on the customers' trends and practices. The report provides facts and necessary details regarding the present customer trends and retailing practices.
A supermarket's formula for success is simple - it operates efficiently, provides a one-stop shop and eventually enjoys consumer confidence…
But, as this report will illustrate, such 'choice' has in the long run, come at a price. Supermarkets today, are proving to be a disaster rather than a boon for the society. The modus operandi of the supermarkets both in procuring and selling goods has had a telling effect on all sections of the society.
"Supermarkets wield immense power over the way we grow, buy and eat our food. They are shaping our environment, our health and the way we interact socially. These changes have gone unchallenged because consumers have been sucked into superstore lifestyles, persuaded that the opportunity to select from six different brands of cut-price oven chips at three in the morning represents choice and value"
In the essay, we initially assess the extent to which the supermarket industry controls the economy and also analyze the amount of power that supermarkets wield over the government or other smaller players like grocery stores etc. The essay critically analyses the present consumer trends as well as their current mindset. It is also important to determine their main influencing factors that ultimately work in favor of the supermarkets.
Finally, the essay discusses the core issue of how a supermarket adopts different strategies in order to woo customers in addition to discussing the various ways in which the consumers are heavily dependent on the consumers for most of their daily needs.
Overview of the Supermarket Industry
A supermarket is a self-service grocery outlet that sells food, beverages and other goods. They are located on urban high streets or in shopping malls, covering an area of around 4,000-25,000 square ft. According to the M+M Planet Retail (2001), over the last 10-15 years, many have developed branches in out-of-town or edge-of-town locations.
According to the IGD in 2001, the major supermarket constitute around 60% of the total market, retailers around 20%, while other smaller vendors and shops fill up the gap which is a mere 13%, In addition to the Co-operatives & hard discounters shares of 5% & 2% respectively. Market analysts, Taylor Nelson Sofres, who calculated the market share after studying shopping habits in 15,000 households, puts the figure at 75% for UK's major supermarket chains.
The supermarkets have also set their foot in the convenience sector, which is valued at around 21bn by the Fortune Magazine (2003). This is part of a strategy of the supermarkets, which aims the so-called 'cash-rich, time-poor' consumers who are on the rise. The Competition Commission report on Supermarkets has made a clear distinction between the two sectors giving the green light to potential takeovers. For example, as cited by just-food.com & Grocertoday.com (2001), Supermarket giant Tesco has acquired hundreds of stores after it took over the reins of TNS and Administore (cited by Reuters, 2001). The simple message sent out here is that the market is not a place for weaklings.
Overview of Consumer trends
"Trend cycles seem to be emerging more rapidly as a result of technology, accelerated social diffusion, instantaneous ...
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(Supermarket the Urban Trend Essay Example | Topics and Well Written Essays - 1500 Words)
“Supermarket the Urban Trend Essay Example | Topics and Well Written Essays - 1500 Words”, n.d. https://studentshare.net/business/294617-supermarket-the-urban-trend.
There are approximately more than 35,000 supermarket stores in the United States with each store stocking about 50,000 different products that are all competing for the buyers’ attention. As a result of this, there are several marketing strategies that have been employed by supermarkets to ensure that they are able to maximize on their profit margins.
Sainsbury's the Supermarket
The year of establishment of this venture was in 1869 by John James and Mary Anne Sainsbury and its growth became evident in the Victorian era with it being the pioneers of self-service retailing in the UK. Other than dealing with supermarket chains, this business venture also has investment interests in the banking and property markets.
The paper will include a report of the chosen business with data and statistics about the industry’s growth and competitors in the business. The purpose of the paper is to work on a detailed business review report touching on topics like price, income and cross elasticity,
2001). The sales turnover and the rapid growth of supermarket has been as a result of the enormous changes that the industry has undergone in last few years. There has been also a rise in the number of supermarket in the world and their sales volume has been increasing rapidly due to increased demand of various products from various consumers.
Morrison's operate with the strategy of placing more value for money with the slogan "More reasons to shop at Morrison's" as well as "The very best for less," (Wkipedia, 2006). Morrison's website (2006) claims, "Our aim is to provide all our customers with the very best value for money wherever they live, and uniquely, we have always charged the same prices in every one of our large stores."
This also marks a pivotal turning point for the Human society, as a result of the same the changes inevitably affected the inhabitants of Europe, North America and as a result of which gradually affected the whole world. A great
The analysis suggests that there is indeed a significant difference between the stores. The author collected the prices of the basic staple foods basket at the four stores and classified it according to the state and location. The author states that store managers need to achieve an equitable distribution of stores to achieve large economies of scale.
Indeed, unsophisticated people are referred to as provincial, meaning, not from the cities, while urban means sophistication.
Furthermore, cities are melting points of culture, and many of them are cosmopolitan areas with a populace consisting of cross-cultural
The emphasis on product innovation is an example of product differentiation, as a marketing strategy (Lamb et al. 2011). Nike has used this strategy for securing its competitiveness in the global market (Lamb et al.
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