Market Trends and Issues Paper

Market Trends and Issues Paper - Market Trend and Issues 1...

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Market Trend and Issues 1 Market Trends and Issues Paper Christine Thompson University of Phoenix ECO365
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Market Trend and Issues 2 Store Expansion - Grocery According to Target’s 2010 Annual Report, they completed numerous store remodels. By investing resources into their existing stores, they have made Target the supreme one-stop shopping center. The enhancements that were done include the following departments: grocery, beauty, home electronics, and shoes. The biggest department expansion was done in order to expand on their fresh food and grocery. The design and layout allows for more of an open-market feel and now includes fresh produce, meat, dairy, and over 700 organic foods in their SuperTarget stores. (Target, 2011) The expansion and rollout of Target’s P-Fresh format will more than likely entice consumers and increase traffic / same-store sales. But by expanding more into the grocery sector, Target will now be competing not only with Wal-mart, but also the major grocery chains. Kroger Company, which owns Smith’s , Smith’s Marketplace, and other well known market stores is one of many large grocery store chains that have mimicked the one-stop shopping experience like Wal-mart and Target. With their primary focus on grocery, they have also clothing, electronics, pharmacy, furniture, outdoor living, and jewelry. They operate in 31 states and have 2,400 grocery retail stores and 338,000 employees. Recent data indicates that in 2010, Kroger increased market share 80 basis points across 19 major markets, while their competitor Wal-mart had a market share of 75 in 17 to 19 major markets. (Kroger, 2011) Kroger has been a food and drug retailer for many years and was founded by Bernard Kroger in
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This note was uploaded on 07/31/2011 for the course ACCT 423 taught by Professor R.becksted during the Spring '09 term at University of Phoenix.

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Market Trends and Issues Paper - Market Trend and Issues 1...

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