Posted on 04/15/2017 4:03:12 PM PDT by 2ndDivisionVet
From rural strip-malls to Manhattan’s avenues, it has been a disastrous two years for retail.
There have been nine retail bankruptcies in 2017—as many as all of 2016. J.C. Penney, RadioShack, Macy’s, and Sears have each announced more than 100 store closures. Sports Authority has liquidated, and Payless has filed for bankruptcy. Last week, several apparel companies’ stocks hit new multi-year lows, including Lululemon, Urban Outfitters, and American Eagle, and Ralph Lauren announced that it is closing its flagship Polo store on Fifth Avenue, one of several brands to abandon that iconic thoroughfare.
A deep recession might explain an extinction-level event for large retailers. But GDP has been growing for eight straight years, gas prices are low, unemployment is under 5 percent, and the last 18 months have been quietly excellent years for wage growth, particularly for middle- and lower-income Americans.
So, what the heck is going on? The reality is that overall retail spending continues to grow steadily, if a little meagerly. But several trends—including the rise of e-commerce, the over-supply of malls, and the surprising effects of a restaurant renaissance—have conspired to change the face of American shopping....
(Excerpt) Read more at theatlantic.com ...
Where did your business go?
Walmart has free ship to store.
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Walmart Grocery is getting into the pre order system, and all you have to do is
pull up and they load your order into your car.
Go into a Sears, etc today and you’ll be lucky to see 6 customers. Retail sales is
changing but that is the process as has been over the generations.
The basic retail enviornment is way overbuilt. I read an indepth report on this about three or four years ago and it is now coming up. Way too many stores and the companies kept expanding when they should not have.
Example; Walmart would build in clusters, say at least three stores in a 10 mile radius. Their theory is while existing stores would see s decrease in sales, in the cluster they would increase. Want to meet the genius who came up with that.
In any event all the major retails stores over expanded to the tune of say 1 Million more square feet of retail space than actually needed. SO what we are seeing is a long overdue thinning of the herd. One of the reasons I will avoid REIT’s as in investment right, especially in commercial area.
Ever been in a retail store the last few years when the power goes out? Everything comes to a stop. No credit card transactions; no POS terminals; no cash register; and the teen behind the counter wouldn't be able to count out change manually if his or her life depended on it.
Just for fun, give the teen clerk a dollar bill and two dimes for a 95 cent purchase. His head will explode! "Why are you giving me the dimes? The dollar bill covers it."
Amazon.
Ebay.
I am just the opposite. I use various cash back cards-some change every quarter. For the past few years I have averaged over 100.00/month.(NO taxes on that income)
My folks did that twice for us kids, first when they moved out of their huge 2-story colonial house into a condo and again when they went to a brand new assisted living facility. I think they had maybe two or three cardboard boxes of keepsakes and records at the end. It is a great gift to your kids to get all your affairs in order way in advance.
I do, too. There used to be a Borders within walking distance of my home and another about four miles away. Now, the nearest bookstore is a Barnes & Noble which is six miles away. If Barnes & Noble goes under, the nearest bookstore will be 40 miles away--and I live in America's second largest urban area.
We have a winnah, give that man a Cupid Doll!
Obomination's intentionally disastrously destructive, Marxist "fundamental transformation of America", "redistribution of wealth" economic policies SPECIFICALLY DESIGNED TO DESTROY AMERICA and the AMERICAN MIDDLE CLASS have been successful beyond his Communist minds wildest dreams. The vast majority of people aren't buying because they are broke, in debt up to their eyeballs just trying to survive and living paycheck to paycheck off of their low paying temp and part time jobs.
Case in point: Their was a recent economic survey of the entire population of Massachusetts; the finding over HALF of the entire dtate's population is living BELOW THE POVERTY LINE!
These results are to be expected given the fact that 45 MILLION PEOPLE ARE ON FOOD STAMPS, 95 MILLION AMERICANS WHO WANT TO WORK, CAN'T FIND WORK, HAVE USED UP ALL OF THEIR UNEMPLOYMENT BENEFITS, ARE NO LONGER EVEN COUNTED BY OUR "government" AS UNEMPLOYED, AND HAVE GIVEN UP LOOKING FOR WORK OUT OF DESPAIR. Is it any wonder people aren't buying? How can you buy, when you and your family have been existing in "survival mode" for the last eight years and have nothing left to purchase anything with?
Is it any wonder that the only stores that are flourishing and expanding in thus economy have been Goodwill, Salvation Army Thrift Shops, Job Lot and The Dollar Stores?
And the so-called "experts" are at a total loss as to why there is a massive heroin epidemic throughout the North Eastern states like New Hampshire of all places! The answer is the economy is in ruins; no jobs, people living in despair.
My heart goes out to the multitudes who are going through these difficult times who do not know or can take comfort in the Lord Jesus Christ. It is hard enough for us who know the Lord. But for these, they are: "without God and without hope, in the world".
Borders was awesome.
I have repeatedly tried to give my business to Radio Shack, but their product lines are abysmal. I leave frustrated each time and shop online vendors for components, kits, resistors, etc from Adafruit, SparkFun, etc. Many of these are extremely informed and offer "how to's", communities, detailed instruction, etc. Much better experience.
I honestly believe stores are at a loss to do with the informed consumer. Most shoppers are more knowledgeable about the product lines than the slackers working in retail stores. It creates a very frustrating experience.
An absolutely wonderful Cuban American, if your definition of wonderful includes buying a newspaper just to try to get Hillary elected and now using it to try to bring down our duly elected president.
I agree, between that and garage sales, I don’t need stores except for socks and underwear. I also sew and can alter the clothes.
It’s way too much fun to find name brands for a dollar. I got an Ivanka Trump bag for $7.50. Still in wrappers. Yea me!
Maybe people are just maxed out on stuff.
I know I need to shop less and less. I already have everything I need and my want list gets smaller all the time. If something breaks I replace it or go without.
The only thing I need occasionally are some new shoes, underwear, maybe a new accessory but I don’t even buy a lot of clothes. Most of my clothes are pretty timeless so I don’t have to buy new every season. I also shop at consignment stores, thrift stores and garage sales (for older garden tools not made in China)
I agree about the darn music. I’ve complained to managers and they say it’s up to the corporate hotshots.
I say fine, tell them they are losing sales and leave.
I'll have to try that.
Somehow it wasn't enough.
Lots of people have no money to spend. The more single moms we have the more poverty America has.
As a retiree, shopping is done infrequently except for necessities. In that category would include my twice monthly visit to wallyworld to purchase ammo.
No big ticket items needed at may age.
To figure this one out does not take JP Morgan.
Over built and online shopping.
Little towns in the west that were once just quaint communities all look alike now with the same gaggle of big box stores and restaurants.
Every time I take a chance going to town looking for something I end up coming back home and ordering it because I CAN’T FIND IT AT THE STORES IN TOWN!!
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