I need four slides about secondary research I already did.
Secondary Research http://www.ibisworld.com/industry/default.aspx?indid=1655
According to IBIS, health and fitness are a $30 billion industry in the United States.
The industry has been increasing dramatically over the past five years. Demographic
changes are expected to expand the industry’s potential market, and high consumer
spending in the industry will boost of higher value services. The demographic of
health and fitness industry are people aged between 20-69 years old.
http://www.entrepreneur.com/article/56778
This is an article from Entrepreneur.com that focuses on how to start a sport and
recreational business. The article states that 86.1 million Americans are frequent
sports participants. More than 83 million Americans occasionally participate in the
fitness game. The author quoted from Outdoor Industry Association, that young
adults aged between 16 and 24 in at least one human-powered activity.
Human-powered activity means any sports activity that needs descent effort such as
Kayaking and canoeing. What can be concluded from this article, is that fitness and
recreational centers have a big market in the United States and it will be a golden
chance for Dick’s Sporting Goods to drive more traffic into their stores if they adopt
this strategy.
http://leankit.com/kanban/lean-flow-metrics/
The article describes the workflow and how it could help the business to improve
productivity. The article demonstrates seven lean metrics to improve flow. There
are two types of flow; good flow means that work moves steadily and predictably.
On the other hand, bad flow means that work stops and then start frequently. The
seven lean metrics are:
● Work in process
● Queues (Item’s total life cycle)
● Blockers
● Lead time and cycle time
● Throughput
● Little’s Law in Practice
● Cumulative Flow Diagrams
Anyone can adjust the meaning of workflow to what he is looking to improve in his
business. In this case what we are looking to improve is the customer flow to Dick’s
Sporting Goods stores through the new retail extension. Right arrangements of
fitness leagues and cooking classes will definitely increase customer flow to stores.
http://smallbiztrends.com/2013/10/things-customers-want-retail-stores.html
An article by smallbusinesstrends.com describes what are the things customers
want from retail stores and how can they deliver it. Six primary points were
addressed in the article describe what are the customer’s need. The first point
stated that customers need personalized customer service and how it is crucial to
provide it to customers. The second point explains how retailers should provide
sensory experience to their customers. The last important point that was addressed
in the article is that retailers should deliver excitement to customers through
holding events to drive traffic to the store and let customers experience something
different than other retailers.