Why Retail Stores are closing their Doors

In the fall of 2008, people began to panic about money. Money is being spent less because of a scare of another depression as they should be scared because we are officially in a recession. People are watching their wallets and pinching pennies. Retail stores are struggling to survive this shortage of sales and money income.

Many retail stores have filed for bankruptcy protection to save them from large amounts of debt. It started out with small diverse companies such as the furniture store Levitz and the electronics seller Sharper Image. Then the larger stores started to crumble under the pressure. Linens ’n Things were one of the first retail stores to start filing for bankruptcy all over the US. Major chains of stores that have one really great competitor seem to be closing up shop. Bed Bath and Beyond blew Linens ‘n Things out of the water and now Best Buy has ran Circuit City into the ground and they are closing their stores.

Many retailers are closing numerous stores of theirs to avoid bankruptcy. Instead of trying to keep the stores open and losing business and sales, the retailer is shutting down the store all together. In my opinion is a smart thing to do in this recession. Closing stores will save them from having to get loaned money to stay in business.

In analyzing why retailers are closing their stores, I have learned that they do not have the funds to keep the stores open. If people are not buying then the retailer cannot keep producing what they cannot afford. Stores also depend on loans to help pay hired help but people are taking money out of the banks in panic that banks might close, so retail stores do not get the large loans that they need to stay in business. People are not buying so stores are not receiving money to stay open.

This recession is hurting retail as well as everyone else that owns a business. Retailers are taking the best way out and closing down some of their stores instead of worrying about a large amount of long term debt. I hope once we get out of this recession stores will start opening again. People need to start spending their money! Only if they have it.

Work Cited-
http://www.nytimes.com/2008/04/15/business/15retail.html?_r=1
By MICHAEL BARBARO

http://www.ask.com/bar?q=why+are+retail+stores+closing%3F&page=1&qsrc=0&zoom=Kmart+Locations+of+Store+Closings%7CDisney+Outlet+Stores%7CBig+Lots+Stores&ab=5&u=http%3A%2F%2Fwww.wwaytv3.com%2Fnode%2F7931
Submitted by WWAY on 9 May 2008 - 5:45pm.

The VALS survey and Libi Lu target market

The VALS survey is pretty accurate when one is trying to find out what kind of motivation, I guess you would say, was behind a person pushing them towards their goal. I took the VALS survey as if I was a Libi Lu shopper and it told me that I was an Experiencer/Striver. I think this is also the same as he target market for Libi Lu would be.

An experiencer is motivated by self-expression. They want to try out new possibilities and they seek variety and excitement. They are always willing to take a risk. They get energy by exercise, sports, outdoor recreation, and social activities. The down fall about being an experiencer is the spend most of the income on fashion, entertainment and socializing. They want to look good and have cool stuff. My group had the store Libi Lu and I think this describes the target market for that specific store. The target market is young girls who seek excitement and fun! They come to Libi Lu to sing with the staff and do their makeup and dance. They get their energy by recreation.

A striver is a little different in a way that they accomplish things because they are motivated by achievement. Strivers are trendy and fun loving; however, they worry about the opinions and approval of others. Money pretty much defines a striver. They are active consumers because they show their ability to buy and shopping to them is a social activity. I think the parents of the girls that go to Libi Lu are strivers. They are probably stay home moms or moms with a small job but not a career. They have time to kill and husband’s money to waste. Strivers want to show off pretty much and what better way than to take your daughter to Libi Lu and make her a pretty princess. The other kids would get jealous.

I think the VALS test is pretty accurate to telling a person what kind of shopper they are. For Libi Lu the target market is young girls who have parents with money. They like to play dress up and love Hannah Montana. Any little girls dream.

The history of Forever21

Forever21 first opened its doors in 1984. It is a chain of clothing retailers that was first called Fashion21 and the first store was opened in Las Angeles, California. Do-Won Chang and his wife, Jin-Sook began the famous clothing store as we know it to be Forever21 today. The first store was small and located at 5637 N. Figueroa St. in the Highland Park, where it still stands today and satisfying customers with fabulous clothes while using the original name, Fashion21. The store became popular and grew drastically in the first year. The store became well known and got so much business that they had enough money to open a new store every six months. That’s when they changed the name from Fashion21 to Forever21.

The first ten Forever21 stores were not located in malls. The 11^th store was the first to be placed in a mall location at the Panorama Mall. After so many stores opening in different places, the store began to expand in merchandise so the stores became larger in square feet. The store became so popular that by 1997 there were 40 Forever21 stores.

Forever21 has many different brands within the company, brands like Forever 21, ForeverXXI, For Love 21 and Gadzooks. Forever21 sells men and women’s clothing and accessories. Not all of the stores sell men’s clothing. In 2001 workers started a boycott because they working and payroll conditions were not fair. The workers were paid better and the lawsuit was dropped. Forever21 has been known to make knock-offs of other more high-end designers. But of course us knock-off lovers are happy that Forever21 can make us clothes that look like the real thing. The owners of Forever21 print the words John 3:16 to show their Christian faith.

Forever21 is a great less expensive and fashion forward store. It will always be my number one choice!

Work Cited- http://en.wikipedia.org/wiki/Forever_21

Forever21 is My Favorite Retailer

My favorite retailer is Forever21. They must have the best fashion forecaster working for them. Forever21 know the latest trends and has every kind of style to match anyone’s personality. They try to color coordinate the store which helps find things easier. They have all the accessories you need to go with the outfit you just bought. Forever21 is a great place to look for knock off’s of famous designers that most of us college students can’t afford. This place is pretty much a college woman’s fantasy!

Once you walk into Forever21, it’s like walking into shop-o-holic’s heaven. The floors are even white with sparkles and the chandeliers are like diamonds from the sky. Ok so I am exaggerating a little, but it is a woman’s paradise. Forever21 does not target one specific style, but all styles. I like to show off my many personalities by shopping for different styles. When I’m feeling sassy they have many dresses for a night out on the town. When I am feeling laid back and comfortable, I look for a pair of jeans and a t-shirt. They have a little bit of everything for every style.

Forever21 is an easy place to shop when you are looking for a specific color. They try to place the colors by season and by color. The bright colors are with the summer clothes and the dark colors are with the fall clothes. So it is easy to find the color you are looking for and also the print. When they have a shipment of say zebra or leopard print clothing items, they try to put them in a group together so it is easier to find.

After finding the right outfit one needs some accessories to match. Forever21 has everything to go with your new ensemble. They have sunglasses for your new summer dress or some jewelry for that new out on the town outfit you just bought. They have handbags, belts and even shoes. They even have lip gloss for the final touch. Forever21 has all the accessories you need to complete your wardrobe.

One of the best things about Forever21 that I know every girl would agree with me on is they make knock-offs of the clothes that we can’t afford! They make knock-offs of famous designers and even just other stores. Express came out with a line of tank tops and dress that were covered in sequence. They were priced really high so they didn’t go fast but then Forever21 made a line of almost the same clothing items and they were sold out within a matter of weeks. I love that they create knock-off because the knock-offs look like the real thing so why not pay less for it?

Forever21 is the best store ever to find exactly what you need and want during the right season, for the right style and for an awesome price!

Lines

The picture with the pink background has very straight diagonal lines on the one side of the dress. The box of pencils match the same type of lines.

The wedding dress has lines that are mostly straight and vertical. The lamp shade has the same type of lines. The plaid jacket has overlapping lines thats are also straight. The picnic table cloth also has overlapping straight lines.

The first dress on the left reminded me of piano keys. The lines are straight. The second dress reminded me of railroad tracks that are curvy and straight.

These lines are vertical to the object that has the same type of lines.

The first dress has horizontal lines like window blinds. Stefani's diagonal lines match those of a railroad crossing sign.

In this project I was given the word "LINES" but I also did color as well as shape on most of my pictures. I like to coordinate my pictures of the clothing with the object of my choice. Lines are very important in design and are used to make clothes of all kinds. Shapes also are included a few times i this blog. ENJOY!