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America’s Retailers Are Closing Stores Faster Than Ever

Super Contributor

America’s Retailers Are Closing Stores Faster Than Ever

9 REPLIES
Established Contributor

Re: America’s Retailers Are Closing Stores Faster Than Ever

I never really saw anything at HHGregg to differentiate it from Best Buy, in fact the few times I visited one of their stores - I never actually bought anything there - their inventory seemed to be inferior to Best Buy's. Probably should stop by tomorrow or next weekend, though, and see when they're going to start offering their closeout deals; I could use a new laptop. What's interesting is that Amazon is apparently starting up a massive push into this very same brick-and-mortar market; by the reports, they're aggressively hiring laid-off Wal-Mart personnel in Arkansas (where they're setting up a major regional center) and are planning to start opening physical bookstores. I wonder what that'll mean for the Amazon Store Card and Prime Card from Synchrony, which so far have been online-only.

Ch 7 BK discharged 12/14, well along in rebuilding credit. FICO 11/2/17:TU 660/EX 694/EQ 688 FICO 8 (Aug 2017) or 680 FICO 9 (Penfed Sep 2017), VS 3.0 11/7/17: TU 704/EX 690/EQ 697. $32.3K revolving credit as of 11/7/17; $951 Cap One secured Platinum MC, $2000 Apple FCU Platinum Visa,$3500 Amazon Prime Store Card, $3500 Walmart Store Card, $3500 Cap One Quicksilver MC, $3600 Discover It, $4000 Care Credit, $4300 Overstock Store Card, $7000 Penfed Power Cash Rewards Visa, $10k PenFed used car loan, $5k Navient student loan. In the garden again from 10/26/17 for at least the next 3 months unless I get a really really good preapproval.
Valued Member

Re: America’s Retailers Are Closing Stores Faster Than Ever


joe8185 wrote:

I never really saw anything at HHGregg to differentiate it from Best Buy, in fact the few times I visited one of their stores - I never actually bought anything there - their inventory seemed to be inferior to Best Buy's. Probably should stop by tomorrow or next weekend, though, and see when they're going to start offering their closeout deals; I could use a new laptop. What's interesting is that Amazon is apparently starting up a massive push into this very same brick-and-mortar market; by the reports, they're aggressively hiring laid-off Wal-Mart personnel in Arkansas (where they're setting up a major regional center) and are planning to start opening physical bookstores. I wonder what that'll mean for the Amazon Store Card and Prime Card from Synchrony, which so far have been online-only.


That's a nice move for Amazon.

 

Not every kind of retail can happen online, by entering B&M they penetrate into these areas.

 

At the same time it almost seems that they've convinced all the B&M stores that online is the ONLY future so the legacy B&Ms (the likes of WMT) is now pouring huge amount of $ into likely futile competition with Amazon's strongest arm rather than strengthen their B&M advantages to fend off the latter's new B&M movement.

 

I'd hazard a guess that Cards will likely be accepted in both type of stores?

Established Contributor

Re: America’s Retailers Are Closing Stores Faster Than Ever

Capitalism at its finest.  The old brick and mortar stores did not see the change coming.  Meanwhile, Jeff Bezos did and is changing the world.  I suspect Walmart will survive but many of the Old Guard (KMart, Sears, JC Penny, Teeny Stores) will be gone in 10 years.

 

The mall is dead.

F'08 APR16: EQ714, EX675, TU679; Clean since BK7 D/C 6/2011
New Contributor

Re: America’s Retailers Are Closing Stores Faster Than Ever

The companies that dont' change will go out of business. They can't just be brick and morar stores with a online footprint. The companies that succeed will be logistical focused companies. The stores that focus omni-channel. If you don't have it in store, let the customers ship it to the store. If you buy it online, let them pick up in store so you can get more foot traffic. In the future, they will still have brick and mortar. It might be different. Every store could just be a showroom. Ie. You try on the clothes, order it in store, and pick it up in a few days. It's not ideal but would cut down on inventory costs and customers might not mind if it's a lower price.

Regular Contributor

Re: America’s Retailers Are Closing Stores Faster Than Ever

There will continue to be brick n mortar stores. Shopping for many is more than purchasing items. It can be social, teens going to the mall, family going to buy a new refrigerator. Yes, it will change and only those companies that change with it will survive. I think we will see speciality stores and some all purpose general retailers. Speciality stores will have certain types of items (think shoes, jewelry, clothes, appliances, home improvement) and all purpose (think Walmart Super Centers). The typical department store will find it harder to survive, it can but it needs to be more than a self-service store. I think high end will be okay as well as discount but those in the middle (Sears, JC Penny, Kohl's and Macy's) will find it harder. They will need some type of incentive to draw people to shop. Not just price, but a reason to go to them to pick up the items you need or want. Service will be part of it, but something else will be needed. Whoever can figure out the "what" will have a future.  

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Established Contributor

Re: America’s Retailers Are Closing Stores Faster Than Ever

Amazon is smart to at least look at B&M to see where market share can be gained. Walmart has purchased online retailers to ramp up against Amazon. Having a bank or lender will as a subsidiary could have nice perks and regulatory nightmares as well.
Super Contributor

Re: America’s Retailers Are Closing Stores Faster Than Ever

Slightly O/T but our local grocery chain in San Antonio tried selling TVs and they just couldn't compete even with a captive audience so they are stopping it.  I still buy major appliances in B & M stores even with potential online prices better.

 

Some of the malls have closed over the yaers in San Antonio but the high end ones still seem to be making it.  LOL most of them have high end bars in them so poeple can drink and shop. 

10/17/2017 FICO: EQ 829 TU 830 EX 826
Established Contributor

Re: America’s Retailers Are Closing Stores Faster Than Ever


marty56 wrote:

Slightly O/T but our local grocery chain in San Antonio tried selling TVs and they just couldn't compete even with a captive audience so they are stopping it.  I still buy major appliances in B & M stores even with potential online prices better.

 

Some of the malls have closed over the yaers in San Antonio but the high end ones still seem to be making it.  LOL most of them have high end bars in them so poeple can drink and shop. 


That's a new one on me. I've heard of grocery stores getting into the drugstore/pharmacy, florist, deli, and bakery lines before - I even know of some that sell, for pity's sake, motor oil - and I've also seen grocery stores that sell no-contract phones, but major electronics store? Am I expected to have to buy my next external hard drive at Safeway??

Ch 7 BK discharged 12/14, well along in rebuilding credit. FICO 11/2/17:TU 660/EX 694/EQ 688 FICO 8 (Aug 2017) or 680 FICO 9 (Penfed Sep 2017), VS 3.0 11/7/17: TU 704/EX 690/EQ 697. $32.3K revolving credit as of 11/7/17; $951 Cap One secured Platinum MC, $2000 Apple FCU Platinum Visa,$3500 Amazon Prime Store Card, $3500 Walmart Store Card, $3500 Cap One Quicksilver MC, $3600 Discover It, $4000 Care Credit, $4300 Overstock Store Card, $7000 Penfed Power Cash Rewards Visa, $10k PenFed used car loan, $5k Navient student loan. In the garden again from 10/26/17 for at least the next 3 months unless I get a really really good preapproval.
Established Contributor

Re: America’s Retailers Are Closing Stores Faster Than Ever


marty56 wrote:

Slightly O/T but our local grocery chain in San Antonio tried selling TVs and they just couldn't compete even with a captive audience so they are stopping it.  I still buy major appliances in B & M stores even with potential online prices better.

 

Some of the malls have closed over the yaers in San Antonio but the high end ones still seem to be making it.  LOL most of them have high end bars in them so poeple can drink and shop. 


I was going to mention this about the high end malls.

 

My mall growing up in my hometown in FL is now a ghost town. The new high end mall in the next town over is booming.

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