The New Eight Rules of Retailing: An Analysis and Comparison of

(Art Van Furniture Lansing Store) visited: Thursday, February 21, 2013

And (Value City Furniture) visited: Friday, February 22, 2013

The New Eight Rules of Retailing: An Analysis and Comparison of

(Art Van Furniture Lansing Store) visited: Thursday, February 21, 2013

And (Value City Furniture) visited: Friday, February 22, 2013

SECTION ONE: INTRODUCTION

There has been a dramatic change in retailing today and there is less to control by the marketers and retailers in the industry. The customers today are clear about what they need in a product and convey to the producers whether the product could be sold to them or not. The five rules of Robert Lewis and three of Flaster will help the retailers deliver greater satisfaction amongst its customers which ultimately will result in high profits. The rules that are established by them must be changed or tailored according to the needs of the target market of a particular retailer. The rules of the industry are set forth by these retail consultants after careful understanding of the market and its expectations. However, if the conditions are not met then the threat is mainly customer rejection of the product and a loss to the business.

The rules ensure that retailers don't have to compete just on the basis of physical product, but there should be different forms of value addition which attracts a customer to eventually buy it. The main aim of the retailer should be to provide a high-end customer experience which could be all the things that he went through when making buying decisions.

SECTION TWO: HOW WELL YOUR FOCUS STORE (ART VAN FURNITURE LANSING STORE) AND COMPETITOR (VALUE CITY FURNITURE) ARE CURRENTLY APPLYING EACH OF THE EIGHT RULES

PART ONE: FOCUS STORE (ART VAN FURNITURE LANSING STORE)

There has to be a differentiation strategy followed by all businesses to make them stand out from their competition. Similarly, Art Van needs to employ methods that help in its retail sales and increase the overall experience of the customers which would make them want to come again.The eight rules developed by retail consultants and their utilization by Art Van and Value Store are discussed below.

From Products to Experiences: Today's consumers don't want to go on a typical shopping experience and there has been a great change with dramatic changes in technologies. They want to have a more meaningful experience. In 1997, Art van expanded its store to fit its upper class customers like adding of atrium, coffee bar and there was availability of a different class of furniture which was modern and according to the taste of its target market. Subsequently, setup of a play area for children with babysitters helped parents while they shopped. Other methods like walking to customers cars, washing their windshield and help lead large purchases into their vehicles were some of the ways employed by them.Thus, the company understood the importance of shopping experience and was diligent in making effort to provide a good shopping ...