Pancras tube stationon theLondon Undergroundnetwork. Relatively st' pancras station is of high speed and thus it has been replaced waterloo international terminus and links with many major trains stations in Europe.
After the construction of st' pancras not only the speed of the railway but also the retail market and the sole trade centers have grown up around the rail way terminus. Due to the reason of highest accessibility and the comfortability it provides to the railway passengers' demand for the services has rapidly grown up around the terminus. With the opening of new hotels and other service centers such as department stores and boutiques there is bound to be a new set of developments. The daily statistics confirm that over 40 million passengers are using the facilities available to them from this two terminals for mainly their transportation needs. As they pass this station they obviously demands many services from the outlets located at the stations. So there is a huge demand to various needs of the railway passengers.
Retail market is defined in the sense as a place where thesaleof goods orservicesto final customers rather than to producers or intermediaries takes place. It is targeting the final customer and satisfying his preferences. The retail market around the kings cross railway station offers a full range of services to the railway passengers to make comfort their journey. It includes shops to buy all the necessities and the bars, restaurants, would class brasserie. Europe's longest champagne bar; the terminal is rich with daily farmers market. Many small boutiques and retail outlets around the area offer many services (Alexander, & Myers, 2000). The railway terminal is similar to an international airport terminal.
Any retailer is considering the market expansion and efficient marketing of the products and services that he offers to the ultimate customers. And thus the retailers in kings cross railway terminal has been successful in achieving this. Retailers who are offering various services at kings cross are very responsible towards customer communications and relationship including targeting new customers, they are keen in having a long term business relationship with the existing customers because they are frequent travelers visiting the railway premises many time in a day for their various transport needs (Newman, & Cullen, 2002). And these retailers are very keen to increase the quality of the service and to have a feedback from the customers, for example many restaurants and bars located in railway premises encourage the customer views on their service and there is a complaint box to identify the failures of the service and take actions to correct them immediately. This approach from the kings cross retailers build customer loyalty, drive store traffic, and it gives the strengths to face and stay with the huge competition that is existing in kings cross railway terminal premises. This is the key aspect to success of the retail market in Kings Cross.
More than ever the retail sector has to concentrate and work together to face the economic challenges that are likely to treat their business. Recession and the government policies regarding retail