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Its kind of sad that all of the video stores have closed. I remember the typical family night of going to the local video store and looking at the back of every VHS to make a selection. I think through the next decade we will see specialized stores start to diminish. For example, the three large office supply stores, Officemax, Office Depot, and Staples. They wont all be around in 10 years, or there main business wont be retail shops. All 3 of them are putting more resources into online business outlets. Places like this have lost so much market share to the Walmarts and Targets.
That just brought back some good memories. But those days are gone.
I love book stores and can't imagine them ceasing to exist. I would hope there'll be enough demand for books. Call me old fashioned, but I would rather read an actual book than a kindle.
There's a CD store in my town that's still open. I actually bought a couple CDs there within the past year. I doubt they'll be around much longer though.
Anything that caters to the vanishing middle-class has a target on it. Mid-range furniture and clothing stores like Bassett and Men's Wearhouse. What's left will be an ever expanding presence of stores from each side of the SE spectrum, such as Neiman Marcus and Walmart.
I also heard that many department stores are going for smaller sizes to fit in smaller markets. Macy's has slowly moved from 150,000 sq. ft. to 120,000 sq. ft. to 100,000 sq. ft. stores. I think they might go for smaller eventually. Perhaps Macy's under 100,000 sq. ft. and be around 80,000 sq. ft. and 90,000 sq. ft.
Best Buy is at risk. It has a lot of debt, people are buying fewer and fewer things on physical media, and electronics sales are slumping because of the economy and people are generally okay with what they currently have for the time being.
That just brought back some good memories. But those days are gone.
I love book stores and can't imagine them ceasing to exist. I would hope there'll be enough demand for books. Call me old fashioned, but I would rather read an actual book than a kindle.
There's a CD store in my town that's still open. I actually bought a couple CDs there within the past year. I doubt they'll be around much longer though.
Yes, I remember those good ole days of browsing the video store, being mad cuz all 20 copies of the lastest movie were gone already
Call me crazy but I'd rather read an actual book too.
Best Buy is at risk. It has a lot of debt, people are buying fewer and fewer things on physical media, and electronics sales are slumping because of the economy and people are generally okay with what they currently have for the time being.
I wouldn't worry over much about Best Buy - they are well diversified. They own alot more than just their BB stores.
They also own Napster, Pacific Sales, Geek Squad, The Carpet Warehouse, etc... Lots of things that people aren't aware of....
Family member who is "high up" in their company gave me a spa facial for a gift.... turns out that they got a deal on gift certificates because BB had just bought the spa company.
I have read recently that the very wealthy in this country have still been patronizing 'upscale' stores such as Nordstrom's, Neiman Marcus, and even I suppose, Macy's. That might be one reason why you still see these going strong, while places like Sears and JCPenny are struggling. If the common man shops there (e.g. not a millionaire), chances are it will go under before all of this is over.
Sears/KMart, bookstores like Borders/B&N, video rental stores and entertainment stores (FYE, etc) are all highly on the bubble I would say. A lot of 'specialty' stores are also at risk, people really like 1 stop shopping. A few clothing stores will have to go, there are just way too many for the market to support.
Best Buy isn't going anywhere, Wal-Mart Target and Meijer are all safe, I think Staples and Office Depot are fine, but Office Max probably won't survive
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