PROJECT REPORT
ON
Identification of locations for the toy retail venture between Reliance and Hamleys
Table of Content:
1. Introduction 4
2. Problem Definition 4
3. Review of Literature 5
4. Research Gap Analysis 7
5. Problem objective 7
6. Data to be Used 8
7. Research Design 8
Type of research 8
Methodology 8
Primary Survey 8
Experiential Survey 8
Data Collection Method 9
Secondary Sources 9
8. Toy Industry In India: 9
Toys and Games 9
About Hamleys: History: 14
More about the store: 15
Different Products At Hamleys: 16
Other Attractions In Hamleys: 16
About Reliance Retail: 16
About the Joint venture: 17
9. Data Analysis and
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Giant toy stores since they do not manufacture their own products, attempt to develop brand loyalty to the stores themselves. The shopping experience itself is now sold to consumers. Retailers want customers to think of their stores as a destination, not a mere outlet for the distribution of products. Their goal is to move attention away from the products sold, which are available anywhere, even over the Internet, to the place where the products are sold. Diamond Toys, one of such specialty toy shops in USA emphasizes status, high quality, unique merchandise and excellent service. Their goal is to attract a wealthy, cosmopolitan clientele seeking unique, high-quality toys sold by solicitous, knowledgeable service workers. Hence, stores in the Diamond Toys chain are generally located in upscale shopping districts in major cities and are built to resemble amusement parks making them appeal to tourists as well as to the wealthy. Hence, the image the store wants to build for itself, the clientele it wishes to serve, play a major role in deciding store locations. A store which is interested in building an image of value for money and offers large discounts will probably locate itself in the city outskirts and depend upon the discount and variety if offers to lure customers to make the trip
The customers the store wants to attract range from young children to older adults. The store will stock something for all age groups for males and females, but the main target customer would most likely be young to middle-aged male adults that are interested in racing r/c cars and trucks on a weekly basis at the track the shop will provide. These customers will keep coming back and stay interested in what the hobby shop is going to focus on, which is r/c cars and trucks of all scales. The location of the store is a fine place for attracting this target customer and people from all around to use the dirt track that will be built, because few other stores will have one.
The store will provide welcoming, attentive and efficient service. The company will provide a productive work environment, rewards for achievement and opportunities to develop.
The purpose of this memo is to document and evaluate the business risks faced by Toy Central Corporation (TCC), as well as audit risks, accounting issues identified, and management assertions affected.
Use the sales forecaster’s predication to describe a normal probability distribution that can be used to approximate the demand distribution. Sketch the distribution and show its mean and standard deviation.
Toys R Us is the world's largest children's specialty retailer. The company operates toy stores throughout the world and is publicly traded on the New York Stock Exchange. In this paper I will give a brief company history, cite where the competitive environment is coming from, strategies that were attempted, and where they stand today.
productivity per square foot double that of the retailer’s nearest competitor. 5 By 1988, Toys “R” Us
Organizational Hierarchy Structure- Toys R Us was a decentralized organization, which had a leadership type setting from country to country. This type of structure was difficult because all the leaders from different countries were not communicating effectively. The company knew they had to make some changes to the system, if they wanted to be successful. Therefore, after careful consideration, the company decided to move to a more centralized structure. This change was needed to strengthen their business with regards to their compatibility amongst countries and creating a more efficient workplace in the United States and abroad. In the company’s business in Europe, instead of their being different leaders across the continent, there will
In analyzing ratios, we recognized an improvement in both return on equity and return on asset ratios if we adopt the level monthly production.
Rue 21 is one of the many retailers that are geared towards teens, however what set them apart from the rest is their affordability. This company strives to keep all of its merchandise under 35 dollars. Rue 21 has locations in various strip malls with 52 percent, regional mall 31 percent and outlet centers 17 there are pros and cons that affect the company for each of them (Berman, 2009). Having this store in a strip center can be a really great thing for consumers put not such a positive thing for the company as a whole. The positive to a strip mall is that it is easily accessible for customers to find and shop at the location. Strip malls have less congestion when it comes to parking, which makes for a more pleasurable for shoppers like
Through studying the entire retail toy industry, we have been able to understand the complexity of the industry in which Toys "R" Us operates. Upon completion of the analysis, we realized that the industry is growing stably,
just building blocks. Due to the different segments that make up the toy industry, buyer power is
There are many barriers to new organizations in the toy industry, making the threat of new entrants low. Lego and other big toy companies like Mattel benefit from economies of scale. An economy of scale is achieved by lower costs through large volume production (Textbook glossary). Economies of scale can occur in many departments within the organization including production, marketing, research and development, and finance. Some manufacturing of Lego products was shifted to Central Europe and Mexico in order to benefit from lower wages and to shorten product supply chains (p. 13 of case). The management of Lego additionally holds expertise on production, distribution and customer needs; which are absent in a new organization. To enter the toy sector a potential entrant needs to calculate the start of production at a level that will give a competitive position and production costs lower than the market.
Mr. Brandon, CEO of Toys R Us, Inc. stated “There is simply no reason to go somewhere else-our focus is kids and families every day of the year-unlike some of our competitors who only play (pun-intended) a few weeks a year” Toys “R” Us Inc.,2017, Oct 24). Another innovative way the company has gained competitive advantage recently is by introducing Play Labs nationwide. Play Labs are a free reality application which includes AR games and play experiences that children can play on their smartphone or tablet devices while they are in the stores shopping. Toys R Us is now more than just a place to shop, they have created experiences which bring their stores to life with their interactive games that the kids highly enjoy playing (Toys “R” Us Inc, 2017).
Toys R Us is one of UK’s leading toy and game retailer. This report conducts an academic research focus on Toys R Us (UK) in toys and games retailing sector. In the first part of this report, we will discuss the toys and games industry background and the overview of Toys R Us. Then, the research will focus on Poster’s Five Force Model and Porter’s Generic Strategies. In the next parts, this report will concentrated on the potential strategies which Toys R Us might pursue in the future. Conclusion and recommendation will be mention in the final part of this report and the recommendation will be covered the best strategy for Toys R Us which can be used for the future competitiveness.
Conclusion: The entry of Toys “R” Us would shake the traditional Japanese toy business, however the cracks appearing in the retail structure points towards the need for transformation in the Japanese market. Hence Toys “R” Us potentially is a good prospect for the Japanese markets.