Posted on 05/07/2017 5:56:43 AM PDT by SeekAndFind
With more than half of 2017 still ahead, the retail industry is seeing a record-setting pace for bankruptcy filings and store closings — and more are expected in the not too distant future, despite what most consider a healthy consumer.
This tipping point for retail is the result of a number of compounding reasons, but the inability to pay looming, massive debt bills is dealing the final death blow to many.
More online shopping
Yes, more shopping is shifting online in general, and to Amazon specifically, as in-store shopping traffic and sales trends fall for many retailers and shopping centers. Slice Intelligence said 43 cents of every online dollar is spent on Amazon, based on its analysis of millions of email receipts.
However, according to the latest Commerce Department retail sales data, 86 percent of all retail sales (excluding motor vehicles and parts and food service and drinking locations) are still made in physical, brick-and-mortar locations. To be sure, the online versus in-store sales breakdown varies wildly from retailer to retailer.
Less stuff, more experiences
While some shopping is shifting from stores to the web, other spending is being diverted from physical goods, particularly, clothing.
In 2005, 3.6 percent of total U.S. retail sales went to department stores; now it's less than 2 percent, according to government data. Retailers like Macy's and credit card companies have discussed the shift in consumer spending from physical goods to experiences like travel.
Plus, for years now, Americans have been making bigger purchases or investments like their homes, which has paid off for Home Depot and Lowe's.
(Excerpt) Read more at cnbc.com ...
Hats, too, but that's becoming tough. I've taken to wearing wide-brimmed hats -- fedoras mostly -- and it's almost impossible to find hat stores anymore. When I do, I really go through a bunch before I find one I like. You can't get that online, but more and more, that's the only place you can find them.
I really wish hats became more in style. The 40s must have been heaven for hat lovers.
Zappos has done a good job for my shoe needs. Their return policy is very liberal. My son buys all of his safety-toed work shoes through them and shoes for his fast-growing 5-year-old.
The outdoor malls are in response to yutes taking over the established indoor centers. Yutes don't like weather.
Sadly, the print media sold out a decade ago.
Agree, I will pay more instead of going to places with a bad environment. All the diversity training isn’t working. It’s made things way worse.
I’ll ‘zon something about 99% of the time.
On-line purchasing is also an outgrowth of instant gratification, and touch screen access.
It seems that going to a store and bringing something home would be more ‘instant’, but I would argue that on-line ordering - - Search, add to cart, Paypal - - is perceived as a conquest and a completed process. Waiting for delivery is ignored, and immediate dealing with the product is avoided. When the object arrives it is a surprise, a second conquest. The wait is not a problem when one has ordered multiple items frequently; there is always something in the pipeline. The delivery man has a never ending supply. As a bonus, my neighbor always has a stack of empty Amazon boxes if I need one.
Purchasing via credit card also kicks the ‘payment’ can down the road. This whole process is kind of like Socialism even.
People have enough stuff. In fact, people are trying to get rid of their stuff.
= = =
Amazon -—> customer -—> Ebay
The retail model needs to be changed. I think in 20 years, someone will challenge Amazon...
They are leaving out the safety and security that has been a problem for years.
* Teens and young adults that are allowed to roam, whether harassing people, asking for money, shop lifting or selling drugs - and security isn’t allowed to kick them out or disperse them because that’s considered racist
* Flash mob fights for entertainment
* Shootings at some locations
This security issue is mostly limited to large indoor malls where adults send their children for a day as entertainment but without the money for a day of movies and entertainment. Or a bunch of people looking for fun bothering others or committing fun have an excuse - we were just going to the mall!
This doesn’t happen nearly as much at outdoor strip malls because people have to drive in and are dispersed.
We need more Americans working and with better pay. We need more money in the shopper’s wallets.
Running a cash register? Half of them couldn’t operate a cash register if the power went out. Giving correct change? Some of those people can’t count past 20...
High taxes and regulations have a cost.
We have become on line people for our news (like here), bill paying, banking, managing our retirement IRAs, coordinating our family functions via text versus a lot of phone talking, and setting up our other social activities from bridge to Mexican Train, our duties/functions at our church and charities.
About 6+ years ago I gave up shopping at Macy’s, Nordstroms and mall stores. If I bought anything from them, it was on line.
My wife used to kid me about Amazon and using its Prime. Now when she needs something this no longer carried where she shops, she asks me to find it on Amazon Prime.
We have family members from the East Coast, Midwest, Southwest to the West Coast. We no longer go through the hassle of shopping and then sending the presents to them.
We use, Amazon and other stores that offer delivery to where ever is how we buy and send gifts. Recently, one of our SILs wanted a copy of our church cookbook. We got one and went to the UPS store to ship it. The UPS experience took close to 10 minutes besides taking 5 minutes to find a parking place.
The UPS clerk said that was due to post 9/11 security even for a Church cookbook. We bought and sent a birthday present to that DIL’s husband, my wife’s brother, from my Lazy Boy in our family room to his home via Prime in a few minutes. He got the present in two days. It took 7 days for the Church Cookbook to arrive.
Advertising is targeted at the young demographic because they have always been the more impulsive buyers, establishing households and viewed with more disposable income. Today I claim this is a mistake.
SHows and advertisers should be targeting an older demographic where real disposable income is held while the young are burdened with college debt and underemployed if employed at all.
Amazon is certainly a growing factor as are other convenience delivery retailers and service industries.
The retail model needs to be changed. I think in 20 years, someone will challenge Amazon...
= = =
That is a good thought exercise. I’ll ponder this on a drive I have to make today.
Buy the ‘code’ and 3D print your own?
Computer reads your mind, or monitors your life and sends what you ‘need’?
= = = OR
If the current direction does not change,
Break the window and take it. That can’t last long.
Grow or make your own.
“Attitudes, not the Internet, are ruining American business” and your aforementioned lack of service is something I have also noticed. I observed it first at Sears— whole hog affirmative hiring 20 years ago.
We need more Americans working and with better pay
= = =
Solves two problems. Money, and gets people off the street.
On TV, an old Western is on.
They are robbing the Stage.
Is the UPS truck next?
I was an empty nester, single, then my daughter, hubby & 2 kids moved in with me.
My house has become a shipping/receiving center. They buy almost everything online. They ship it right back if it’s wrong or doesn’t fit.
It’s rubbed off on me too. I now have an Amazon Prime membership.
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