Goody's and KB Toys Closing

Goody's

The reason I think Goody's had to close their store is because they had a hard time keeping up with their competetors. Those competetors includes Kohl's and Target. Target and Kohl's had a better marketing stactegy and sales so that did not help with Goody's trying to get business. Goody's had 355 stores and had to close over 100 of them. Goody's did not have a good holiday season so that did not help with them trying to get their business up. They ended up having to file for bankrupcy. If they would have planned sales better and competed with places more like them they may have survived. Goody's even went so far as to sale their store shelves and mannequins.They held a liquidation sale to get as mush as they could sold. Goody's was a 55 year old retailer and now is gone.

KB Toys

KB Toys filed for chapter 11 bankrupcy protection and closed over 400 stores. KB Toys was the largest mall-based toy retailer. They did not file for bankrupcy until 2 weeks before Christmas and this was questioned by the judge. I think KB Toys closed because they had high prices compared to places like Toys R Us and home town mom and pop shop like John's Toy and Hobby. KB Toys had few sales and when they did they mark-downs were not significant so people still did not want to buy the toys. Kb Toys is also the oldest toy retail chain and just like Goody's they are now gone.

Articles about Goody's:

http://www.nypost.com/seven/01062009/business/goodys_chain_is_closing_147357.htm

http://www.kentucky.com/103/story/648896.html

KB Toys Articles:

http://www.jamd.com/image/g/2915799

http://money.aol.com/news/articles/_a/bbdp/retailer-kb-toys-plans-to-shut-down/274875

Goody's:http://www.accessnorthga.com/detail.php?n=210672

Closing Sign:http://www.thenewsjournal.net/content/breaking-news-corbin-sam-goody-store-abruptly-closes

KB Toys:http://www.babble.com/CS/blogs/strollerderby/archive/tags/KB+toys/default.aspx

Sale on Toys:http://www.jamd.com/image/g/2915799

VALS

PRIMARY:Experiencers are motivated by self-expression. As young, enthusiastic, and impulsive consumers, Experiencers quickly become enthusiastic about new possibilities but are equally quick to cool. They seek variety and excitement, savoring the new, the offbeat, and the risky. Their energy finds an outlet in exercise, sports, outdoor recreation, and social activities.Experiencers are avid consumers and spend a comparatively high proportion of their income on fashion, entertainment, and socializing. Their purchases reflect the emphasis they place on looking good and having "cool" stuff.

SECONDARY:Strivers are trendy and fun loving. Because they are motivated by achievement, Strivers are concerned about the opinions and approval of others. Money defines success for Strivers, who don't have enough of it to meet their desires. They favor stylish products that emulate the purchases of people with greater material wealth. Many see themselves as having a job rather than a career, and a lack of skills and focus often prevents them from moving ahead.Strivers are active consumers because shopping is both a social activity and an opportunity to demonstrate to peers their ability to buy. As consumers, they are as impulsive as their financial circumstance will allow.


I thinkthese are somewhat accureate the description of the experiencer are deffiently on target. It says the striver lacks skills and I do not think it the lack of skills but more the lack of help possibly.

After I took the survey it said I was a primary experiencer and a secondary striver. I do agree with these. I do try to experience as much as I can. I also like to strive to be the best and do good at all the things I do. Also as an experiencer I do spend most of my income on fashion and things like movies and theater. I like to try risky things and enjoy outdoor activities. Also I am a striver because I do a lot of impulse things as long as I have the money. I disagree though about the lack of skills to get thing moving forward.

I do not think it was at all like the person we presented in class. Eddie Bauer costomers are not usually risky with their money or impulsive. They are usually not the most fashion forward group of people but do enjoy the outdoors. I think a few aspects of them can relate to Eddie Bauer costomers.




Experiencer Def:http://www.sric-bi.com/VALS/experiencers.shtml
Striver Def:http://www.sric-bi.com/VALS/strivers.shtml

Forever 21 Research

FOREVER 21

Forever 21 was originall called Fashion 21 and was founded in Los Angeles, California in 1984 by a man named Do-Won Chang and his wife, Jin-Sook. the very first store is located at 5637 N. Figueroa St. in the Highland Park district of Los Angeles was only 900 square feet. This store although bigger still has the original name of Fashion 21. By the end of the first year, sales rose from $35,000 to $700,000. Fashion 21 eventually expanded at and had a new store every six months so they changed the Fashion 21 brand name to Forever 21. In 1989, Forever 21 opened its 11th store and first store located in a Mall, at the Panorama Mall in Panorama City, CA. Forever 21 had reached a total of 40 stores by 1997. The average size for the stores by this time was 9,000 square feet. Since 2002, Forever 21 has been ranked as one of the 50 largest privately held companies in Los Angeles. In 2005, Forever 21 was operating over 355 locations nationwide with the brands Forever 21, Forever XXI, For Love 21, and Gadzooks. Forever 21 opened XXI flagship stores with these stores beings an average of 24,000 square feet. Its revenue topped $1 billion in 2006, placing Forever 21 in the ranks of the top 500 privately held companies in the U.S.

XXI Forever : http://2.bp.blogspot.com/_xOFor8ew4mo/RmNp_g8SeoI/AAAAAAAAAWk/-r8PjXCcWWg/s400/IMG_0759.JPG

Forever 21: http://i9.photobucket.com/albums/a64/tresormakati/sf-forever21.jpg

Gadzooks: http://www.winkel-construction.com/images/Gadzooks.jpg

Favorite Retailer

Forever 21

I like Forever Twenty-one for many reasons and I also dislike it for a few. I like it more overall and these are five major reasons why I like it.

First I like their overall selection of clothing. It is always in style and up to date with the trends. There are many different styles and colors of everything and available in many sizes. The clothes are usually nice looking and do not mess up too quickly. The clothing is hip and i can always find something I want. The store has tons and tons of things to choose from in all categories. They have pants in lots if styles and colors and shirts in tons of styles and colors. They have almost anything a young girl would want.

Second I like Forever Twenty-one because of the price of the clothing. The prices are overall good and I can get more for my money than I can in other places. i can usually go into the store with just twenty dollars and leave with at least one thing.

Third I like it because they uaualy have tons of staff on hand to help you if you need it. The staff are uaually friendly and have pretty good knowledge of where everything is at in the store. The staff usually will even show you instead of just tell you where what you are looking for is.

Fourth I like Forever Twenty-one because the store is uaually in the mall so I can go from that store to another. The convience of having my favorite retailer in the mall is that it is conviente for me to go there sonce i can get other tasks done at the same time.

Fifth I like it is because of the largeness of the store. Since the store is large that means they can have more clothes and also have room for other things like accessories, bags and shoes. Since they have room and carry those things I can get something to match my outfit in the same place.

Those are the five reasons i like Forever Twenty-one: selection of the clothing, price, staff, location and size.