It is all over the news, there’s been closure after closure of retail stores across the nation. Signs that say: “Store Closing. Everything Must Go!” plaster the once popular chain retail stores, now using their last breaths to clear their inventory. Places that used to be tremendously popular are struggling to get by. Some of the victims include Payless, RadioShack, Rue 21, JCPenney, and more. Indeed, by the end of this year, the total of store closures is estimated to be near 8,640. This beats the previous high that was in 2008, totaling 6,162 stores (Durden). Why the sudden change? Many people credit the shift to online commerce as the killer of these stores. But surely consumers wouldn’t let this happen unless digital shopping offered significant benefits. Indeed, online shopping does have benefits that brick-and-mortar stores can’t offer. They offer a new kind of convenience, competitiveness, and variety that many physical stores can’t match. But others argue for the survival of in-person stores because of their personal, real experience they offer with the products, the ability to try before you buy, and the absence of shipping costs and wait times. With both types of shopping having their own perks, it’s hard to see a future without either. For these reasons, some believe that the prime future of retail shouldn’t exclude either format of shopping, but morph them together into a new shopping experience using both physical and digital aspects. This future of retailing
Unlike Starbucks, Macy’s is not doing very well, as evidenced by the fact they announced last month the impeding closure of 68 stores (Peterson, 2017). The company has been struggling for a few years with the growth of the internet and online businesses such as Amazon making their brick and mortar stores impractical in modern times. While the number of stores may not seem like as much of a problem as it is, as other companies have had to close down more in recent years or go out of business in general, this is a symptom of larger problems in both the company and the industry.
Today I will be trying to convince you to invest in the Wal-Mart Stores, Inc. What makes this stock great you may ask is that it has more than 5,000 stores and clubs nationwide. The stock cost $71.67 per share and the stock has gone up $1.59. Walmart first opened common stock to the public in 1970 and began trading on NYSE on August 25,1972. Walmart has emphasized the importance of keeping its merchandise in stock for shoppers. The company’s stock have risen about 15% this year. Wal-Mart is the world's largest retailer. The employees are more evident as Wal-Mart becomes a more pleasant place to shop. Walmart has said it will invest billions in lowering
In the world of commerce and retail today, there are a variety of retail stores that are all geared toward the customers who are interested in saving money and finding bargains on their daily purchases, as well as on some of their major purchases. Some of the retail stores that are in this category of low prices and discount prices are Big K-Mart, Wal-Mart, Inc., Fred’s Dollar Store, Family Dollar Store, and Ollie’s Bargain. Due to the increase in e-commerce and online purchases, several of these retail stores, such as Big K-Mart and Fred’s Dollar stores are closing in many areas of the country. Since there has been an increase in the demand for more sales and discounts by customers and there are less discounts stores available, retail stores
Online stores are growing in popularity and drawing attention. Because of this, other retail stores are losing that attention and business. Some major stores include Sears, Radio Shack, JCPenney, Macy’s, Payless ShoeSource, Dillards and more. These are called brick-and-mortar stores. According to www.merriam-webster.com the definition of a brick-and-mortar store is, “a traditional business serving customers in a building as contrasted to an online business” (Brick-and-mortar, n.d.). “It’s possible more than 8,600 brick-and-mortar stores will close their doors in 2017 (…) JCPenney announced plans to shutter 138 stores by July, Payless ShoeSource is closing hundreds of stores, and Macy's said it's shutting down 68 locations” (Wattles, 2017). What a shame to lose these resources and businesses, especially for those who support and appreciate the local retail option.
Many Retail chain stores are struggling to get customers to walk in and shop in their stores as much as they did before. People seem to enjoy shopping online (for commodity, convenience, and other valid reasons), and this has affected many conventionally-operating retail chains.
he retail industry is in the middle of an unprecedented economic crisis. All retailers are trying to figure out how to cut costs, retain customers, conserve cash and more importantly stay in business. Recently, the National Retail Federation (NRF) polled readers of its SmartBrief asking them what was on top of their mind. Loss Prevention (LP) came in second only to the overall economy! It is no surprise given that every dollar saved from retail shrink is a dollar added directly to the bottom-line. Looking back in history, we have seen tough times like these are conducive for higher shrink numbers. This is mainly due to retailers cutting down
When shopping for insurance, not much is different among providers. They all offer the same types of coverages, all do the same jobs during an accident, and so what makes one provider have a higher customer base than another? When you look at insurance, the keys to selling coverage are price and customer service. Price obviously is a major factor in shopping insurance, but if you are stuck between 2 and they offer the same coverages for the same price, you will lean towards the provider with better customer care. Whether it was their tone of voice on the phone, or simply them not bugging you 24/7 about your policy or an accident you were in, the better the customer experience the more likely they will stay with, suggest, or even switch to said provider. Not involving your insured as much in any process regarding
With plans of closing about 800, or “20% of the 4,000 stores it operates,” it’s safe to say that the business failed. The main reason for Payless’s bankruptcy is the growing popularity of online shopping, especially from Amazon. The company stated that the “latest round of stores had poor sales, physical location or other ‘specific circumstances.’” However, Payless was not alone in its demise; hundreds of other retail stores and malls struggled this past year. The combination of increases in online shopping and the shift to spending on traveling and dining out has created much difficulty for retail stores like Payless. Thus, Payless’s bankruptcy was largely due to the overall downfall of the retail
For retailers, being online is efficient and improves customer relationships, but it does not replace a retailer's ability to "up-sell" and ultimately it struggles to match the brand appeal created by a physical presence in a strong shopping centre.
The Internet has changed the way we do virtually everything, including the way we shop. However, shopping is not the only thing that has changed. In the last decade we have changed the way, we apply for loans, study, and even plan a vacation. Doing any of these things would have been impossible a few decades ago. At present, online banking, paying bills, ordering new services, and shopping online have become part of our daily lives. Traditional brick-and-mortar stores have been around much longer than online stores, but we cannot deny that online shopping is giving the traditional stores competition. Many consumers still choose to shop at regular brick-and-mortar stores because they like to see and
Having escaped rule from a tyrannical British government, the United States was founded on ideals of freedom and equality for all people. These fantasies of universal egalitarianism turned out to be merely that: fantasies. American history is full of stories of the oppressed struggling to get the rights they deserve and of the controversy over these issues that consequently ensues. “The Hypocrisy of American Slavery” by Frederick Douglass and “We Shall Overcome” by Lyndon B. Johnson are two speeches made confronting two of these issues. Douglass’s speech, delivered in 1852, condemns the institution of slavery and maintains that slaves are men and are therefore entitled to freedom. Johnson’s speech, on the other hand, was written in 1965 and discussed the civil rights movement. In it, he implored local governments to allow all American citizens, regardless of race, to vote. Despite the significant gap in time between these two addresses, both speakers use similar persuasive techniques, including ethos, pathos, and parallelism, to convince their audience that change needs to be implemented in America.
Furthermore, they offer to the customer the experience to buy in a physical store, compared with Amazon that is one of the strongest competitor, there’s no doubt that the internet, and the mobile web in particular, have changed the way people shop, but there is strong evidence that consumers continue to value the experience of
Advertising is a part of society that can’t be ignored. It’s purpose is to persuade people to go to that specific store or restaurant to consume a product. However, sometimes people don’t have the time to drive to the store and end up doing online shopping. Even on the online websites of the stores there’s certain things that they display to get the attention of customers. Even Though Forever 21 ads are rarely seen on television or on billboards, it’s seen advertised a lot on social media. Their page on Instagram has 14.1 million follower and more than half of them are teenage girls and young adult females. (@forever21) This store targets teenage girls and young adult woman as their customers due to the clothes and accessories that are sold. It has become a popular store among female teens and young female woman. That’s due to the fact that it allows their customers to buy trendy chic clothes at low prices. That is important especially because we’re living in a time in which people care a lot about how they look. The Forever 21 website lures customers by displaying current offers, exhibiting the different clothes they have, and the models they use on the pictures.
Andrew Simoncelli once said, “Students who take online classes must be motivated, independent learners.” This is relevant because independence and motivation is what it takes to succeed in an online course. Online learning will not only expand what students learn, but will also bring a number of positive changes in the way students are taught. Courses online have changed everyone’s look at learning all over the world. It allows more opportunities for observers to learn online rather than learning in class. Another affirmative of taking an online course is flexibility and convenience. Students who would like to experience some of these ideas should look into an online class!
Do you know that you do not need to have your website or products to sell to make money online today? There are many ways of making money online today even that do not require you to be a marketing genius or an experienced web designer.