Political
With the issuance of tax returns and the governments increased efforts to stabilize our economy, there is more money in circulation. With citizens getting more back on their tax return there is a higher possibility of more money being spent on wants vs needs.
Economic
With the economy coming out of a deep recession spending is starting increase. We can see the recovery phases starting with stabilizing mortgage rates and the dollar regaining its value. Overall spending and sales for retail stores increased slightly for the last couple months increasing to about 2.3%, which would be a positive indicator of an improving economy. Our countries overall unemployment rate remained unchanged at 5.8% with a continued focus on creating jobs. The real domestic GDP for the industry rose 4.6% for the quarter, while the national increased 3.9%. Kohl's has taken this into consideration and continues to send its customer "Yes" coupons as well as issue Kohl's cash. Kohl's also has started the Rewards program, for every $100.00 you spend in the store you receive a $5.00 coupon good towards your next purchase.
Social trends
Social trends remain the same, everyone wants the hottest item at the best price. Most customers look to the celebrities to see what the latest and hottest trend is. With this consumer focus Kohl's continues to deliver celebrity brands such as Simply Vera Vera Wang, Candies, Rock & Republic, Jennifer Lopez Collection, Marc Anthony Collection and much more. Another social trend that can be seen is in the online industry. Many consumers are purchasing their merchandise online, Kohl's has continued its drive for online presence and has expanded its internal associate base, as well as reconstructed the website, creating a user friendly page.
Technological
With more and more customers purchasing merchandise online, it is essential for all companies to maintain and improve the on-line shopping experience for their customers. Online purchasing has increased 11% recently and continues to bring in Billions of dollars a year. With the online threat competitors such as Amazon enter the picture and create more of an online presence for 1-stop shoppers. For this reason major companies within this industry need to remain innovation and constantly adapting to the needs and demands of the customers it servers as well as the industry. For this reason Kohl's continues to improve it's Online shopping presence by launching the new app with Apple watch, as well as the app for the Apple and Droid smart phones
Legal
Kohl's continues to make sure it is abiding by all set legality at all times
Environment
With the recent concern over global warming, there has been a push to reduce the amount of waste and pollution consuming the globe. Kohl's is committed to protecting and conserving the environment by seeking innovative solutions that encourage long-term sustainability. From large-scale initiatives, like constructing environmentally friendly buildings, to everyday practices, like recycling hangers.
With the issuance of tax returns and the governments increased efforts to stabilize our economy, there is more money in circulation. With citizens getting more back on their tax return there is a higher possibility of more money being spent on wants vs needs.
Economic
With the economy coming out of a deep recession spending is starting increase. We can see the recovery phases starting with stabilizing mortgage rates and the dollar regaining its value. Overall spending and sales for retail stores increased slightly for the last couple months increasing to about 2.3%, which would be a positive indicator of an improving economy. Our countries overall unemployment rate remained unchanged at 5.8% with a continued focus on creating jobs. The real domestic GDP for the industry rose 4.6% for the quarter, while the national increased 3.9%. Kohl's has taken this into consideration and continues to send its customer "Yes" coupons as well as issue Kohl's cash. Kohl's also has started the Rewards program, for every $100.00 you spend in the store you receive a $5.00 coupon good towards your next purchase.
Social trends
Social trends remain the same, everyone wants the hottest item at the best price. Most customers look to the celebrities to see what the latest and hottest trend is. With this consumer focus Kohl's continues to deliver celebrity brands such as Simply Vera Vera Wang, Candies, Rock & Republic, Jennifer Lopez Collection, Marc Anthony Collection and much more. Another social trend that can be seen is in the online industry. Many consumers are purchasing their merchandise online, Kohl's has continued its drive for online presence and has expanded its internal associate base, as well as reconstructed the website, creating a user friendly page.
Technological
With more and more customers purchasing merchandise online, it is essential for all companies to maintain and improve the on-line shopping experience for their customers. Online purchasing has increased 11% recently and continues to bring in Billions of dollars a year. With the online threat competitors such as Amazon enter the picture and create more of an online presence for 1-stop shoppers. For this reason major companies within this industry need to remain innovation and constantly adapting to the needs and demands of the customers it servers as well as the industry. For this reason Kohl's continues to improve it's Online shopping presence by launching the new app with Apple watch, as well as the app for the Apple and Droid smart phones
Legal
Kohl's continues to make sure it is abiding by all set legality at all times
Environment
With the recent concern over global warming, there has been a push to reduce the amount of waste and pollution consuming the globe. Kohl's is committed to protecting and conserving the environment by seeking innovative solutions that encourage long-term sustainability. From large-scale initiatives, like constructing environmentally friendly buildings, to everyday practices, like recycling hangers.