big lots :: essays research papers

biggish Lots Inc.Big Lots Inc. is not your everyday retail store such as Wal-Mart or K Mart. Big Lots, Inc. is the largest broadline closeout retailer in the nation. Big Lots theme is Brand names at closeout prices This motto is the foundation of what the federation is built upon. More than 3,000 manufacturers provide the companys stores with brand-name products at prices 20-40% below traditional discount retailers. Big Lots meets the needs of customers by providing an assortment of merchandise, including consumables, seasonal worker products, furniture, housewares, toys, and gifts. Big Lots was established in 1982 through Consolidated Stores heap. The stores name was called Odd Lots which do its debut in Columbus, Ohio. In 1985, the company made its initial offering on the American Stock Exchange. At this time Big Lots was stolon launched. Thanks to their buyers, managers, associates, and other supporters, the company celebrated its first billion dollar year in 1993. In 1994, the company acquired Toy Liquidators which added 82 stores in 38 states. Two years later Consolidated Stores Corporation doubled its size and sales with the purchase of KB Toys. Big Lots Furniture became one of the fastest-growing furniture retailers after it began with 9 freestanding stores and 53 in-store departments in 1997. After gaining shareholder approval, Consolidated Stores Corporation changes its name to Big Lots, Inc. in 2001. After rebranding was complete in 2002, the company made many improvements in the Big Lots shopping experience, including updated, attractive stores and even better customer service. The changes bring record-setting increases in customer transactions. Most closeout retailers rely on the distribution of weekly or monthly circulars to inform customers of the latest deals. Big Lots uses targeted mixtures of circulars to drive immediate customer traffic along with network television advertising to build sentience with consumers. In 2003, launched its f irst-ever $50 million television advertising campaign. Commercials can be seen all over daytime and nighttime television. With a host of variant types of products to market, Jerry Van Dyke plays the lead role in promoting the companys products. Consumers also receive a weekly sales promotion in the arms that brings to life what Big Lots has to offer in its Here today, gone tomorrow deals. Advertisement strategies have the potential to make or break a company. Fortunately, the company seems to be moving in the right direction. Location on the other hand is also a key factor in a companys success.