The Changing Nature of South Korean Retailing

Posted on April 18, 2013 by bermanevansretail
With 50 million people, South Korea represents a large retail marketplace. It is one that that is undergoing significant change.
As reported by Evan Ramstad, writing for the Wall Street Journal: “The look of South Korean retailing, long a stranglehold of big department stores, is being reshaped partly by cable-TV shopping and smartphones. A decade ago, it took Lee Jie-on three years to persuade South Korean biggest retailers to stock a line of children’s skin-care products from the U.S. But the product distributor, recently had an easier time persuading them to sell U.S.-made accessories online for new moms.”
Click the image to learn more.

Photo by Bloomberg News

 

Posted in Global Retailing, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Social Media and Retailing | Tagged , , , , , , , , , | Leave a comment

The Power of Women in the Marketplace

Posted on April 17, 2013 by bermanevansretail
Although men have increased their retail shopping over the years, women remain the dominant purchasers in most situations.
As recently reported by Nielsen: “Women have tremendous spending power in America today — and it’s growing. Market estimates about their total purchasing prowess varies, ranging anywhere from $5 trillion to $15 trillion annually. And the scope of that spending is notably vast. Fleishman-Hillard Inc. estimates that women will control two-thirds of the consumer wealth in the U.S. over the next decade and be the beneficiaries of the largest transference of wealth in our country’s history — compelling insight for anyone curious about who’s keeping the U.S. economy going these days. In addition to handling the bulk of the purchasing decisions for consumer goods in the U.S., they’re also likely to influence or manage many other big ticket purchases — homes, autos, appliances, furniture, etc. — not to mention a large portion of the apparel, groceries and everyday purchases.
Click the Nielsen chart to read more.

 

 

Post suggested by KCJ

 

Posted in Part 3: Targeting Customers and Gathering Information, Part 7: Communicating with the Customer | Tagged , , , , , , , , , , | 3 Comments

In Honor of Boston

Posted on April 16, 2013 by bermanevansretail
Unfortunately, another terrible tragedy struck yesterday, this time in Boston. Let us pull together and make today a good day. Smile at someone, reach out, be a friend, shop at a local retailer, don’t let the bad guys win.
U.S. Senator Jack Reed of Massachusetts, who released a statement on Monday, put things in perspective about the explosions at the Boston Marathon: “Our thoughts and prayers are with the victims and our heartfelt thanks go out to those first responders, medical personnel, volunteers, and citizens who were on the scene to help those in need.”
To quote Robert F. Kennedy, born in Massachusetts and himself the victim of a terrible act of violence: “Let us dedicate ourselves to what the Greeks wrote so many years ago: to tame the savageness of man and make gentle the life of this world.”

 

Photo from CNN Web site

 

Posted in Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business | Tagged , | Leave a comment