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Published: Wednesday, 22 Jan 2014 By: Krystina Gustafso
The only possible reason I would EVER go to this channel is because it was a Drudge link.
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On Tuesday, Sears said that it will shutter its flagship store in downtown Chicago in April. It's the latest of about 300 store closures in the U.S. that Sears has made since 2010. The news follows announcements earlier this month of multiple store closings from major department stores J.C. Penney and Macy's.
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Everywhere I go in Vegas, I see empty store fronts and stores closing for lack of business. This is effecting fast food and sit-in restaurants as well. And, IMHO, it ain't gonna get any better soon.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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I expect a big shift from retail workers to warehousing/shipping as online sales continue to cut into the retail stores. Thinking about my own family, I may buy an occasional tool there, but my wife likes there Land's End clothing and buys it online and has it shipped. Sears may yet survive but without as many actual stores. Others without online sales may go under completely. The biggest loser is going to be owners of commercial real estate that are heavily invested in retail buildings.
Another trend I'm seeing is changing from small Mom and Pop outlets to bigger Maxi Stores.
WalMart is a perfect example of what's happening - everything in one spot.
I find it kind of humorous as these maxi-stores have exploded in Mexico for the past 10 years. Everything in one place.
The online idea also hits the mark - more and more brick and mortar bookstores are going out of business as Amazon and other online dealers are taking up a huge chunk of the market.
I have an ok job but I've been cutting way way back on my buying stuff, living more frugal, putting money in savings. I'm making sure I'm using the stuff that I already have (and there's plenty of it) and doing any shopping for stuff I do need or want at thrift stores and yard sales. I find plenty of high quality second hand clothes and other items for $1 at yard sales.
If I do need something that I can't find locally I shop carefully online, ebay or amazon.
I also have friends that I have been bartering stuff with. It's fun. One friend gave me her old smartphone (I didn't get cell service on it, it makes good mini tablet) and I gave her a pile of nice clothes that I was done with.
But that's only my story.
Big business is so short sighted. My simplistic view is that employees are also customers. Your employees may not be your customers, but someone else's employees are are your customers, and vice versa. No one wants to pay their people but they want everyone to spend. If they were truly wise they would find a way to get money into the pockets of those who would buy. As it's going now those 1%ers better start buying each others stuff so they can all keep making money.
Not too surprising..but didn't the media also predict that brick and mortar stores would disappear in the late 1990s..during the .COM boom? Everything was E-Commerce,e-commerce nobody is going to shop at a store again. That was nearly 15yrs ago.
For clothes especially people still like to see and touch things.
Can you think of one big online only clothing store? ... There's zappos but that's mostly for shoes which are a bit different.
Also a large store going out of business could be an opportunity for many small entrepreneurs or existing companies with large stores that "GET IT" and understand how to sell to their customers today.
Not too surprising..but didn't the media also predict that brick and mortar stores would disappear in the late 1990s..during the .COM boom? Everything was E-Commerce,e-commerce nobody is going to shop at a store again. That was nearly 15yrs ago.
For clothes especially people still like to see and touch things.
Can you think of one big online only clothing store? ... There's zappos but that's mostly for shoes which are a bit different.
Also a large store going out of business could be an opportunity for many small entrepreneurs or existing companies with large stores that "GET IT" and understand how to sell to their customers today.
Big business is so short sighted. My simplistic view is that employees are also customers. Your employees may not be your customers, but someone else's employees are are your customers, and vice versa. No one wants to pay their people but they want everyone to spend. If they were truly wise they would find a way to get money into the pockets of those who would buy. As it's going now those 1%ers better start buying each others stuff so they can all keep making money.
This is one of the reasons why I shop at Costco and have so much respect for that company. They pay their employees well and not let all the Corp level people hog up all the money. That's the reason why their employee turnover is so little.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Quote:
Originally Posted by calnbs
This is one of the reasons why I shop at Costco and have so much respect for that company. They pay their employees well and not let all the Corp level people hog up all the money. That's the reason why their employee turnover is so little.
I agree, and in fact, most of the clothing I buy is from Costco. I also agree with jm1982 that people like to see and touch their clothes before buying, and you can do that at Costco. Their jeans, dress shirts, underwear, socks, business casual pants and jackets are all good quality and inexpensive.
This is one of the reasons why I shop at Costco and have so much respect for that company. They pay their employees well and not let all the Corp level people hog up all the money. That's the reason why their employee turnover is so little.
I wish we had a Costco here. I'd shop there.
I have a neighborhood Albertsons store. Not sure how Albertsons is overall but I have a friend that works at that store and he is a union employee and is paid and treated fairly well for checkstand work. All the other employees there are always happy and friendly so perhaps they are paid ok too. I shop at the store a lot because it's walking distance and they have great loss leader sales. They used to have self checkouts but they took them out and use all real people now which is nice.
This is one of the reasons why I shop at Costco and have so much respect for that company. They pay their employees well and not let all the Corp level people hog up all the money. That's the reason why their employee turnover is so little.
I think beyond money even , the culture of a place makes a big difference too . If people are treated like crap or have to put up with a lot of bs why would they stay .
I know someone that works for costco for many years and it's very demanding work . True though that turnover is low . The pay is good for retail.
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