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 ...
I know what you mean about hats. For those of us who wschew “One size fits all” baseball caps it is worse than buying shoes. Shoe stores are everywhere, even on this little island, but the nearest hat shop is 800 miles away. Fortunately, there are quality online retailers, plus ebay; and with a little help from my friends at the Fedora Lounge...
We have a two year Vizio. My wife has arthritis in her hands and some times drops things. Comcast replaces thir damaged ones at no cost if you go to their local shop.
We use the Vizio remote to stream. They wanted over $30 a new remote. I bought probably the same one you did from Amazon at the same price. It came shortly after we go the tv.
So I did the coding/matching thing to ensure that it worked. Then I put it into the drawer in the tv stand.
Last week, my wife dropped the Vizio remote. Before she had picked up the pieces, I had the replacement out and using it.
I have another one on order.
I would have agreed 20 years ago but not today. While I was always frugal, I don't buy near the amount of stuff now as when younger. If I can't find it at Walmart, I don't need it. An online purchase maybe happens once every couple of years and, as someone upthread said, it's for a diy home repair.
No good paying jobs, ever increasing tax burden and regulations, death spiral of small business owners, and you have a demand flat line. Accelerate this with automating the jobs that are left and get ready to see crushing deflation as prices plummet to zero and no one shows up to buy it.
To be fair to Amazon, they really don’t sell much. Most of what is offered on Amazon is from third-parties. So, what you’re really saying is that no one carried the product but the manufacturer, and that gets back to my wholesaler comments.
How do I know? Because I either buy them or know the people who do.
There is a large group of people out there that buy food, materials to repairs their houses, gas and what they can find at the used stores.
I went to an outlet mall, the buying was lackadaisical except for a few stores that sold underwear, socks and shoes. Because those are things you don't buy used.
Even if these people find a fabulous job tomorrow they are not going to be out there buying up everything in sight.
They got burned badly over the past eight years and are in no mood to trust.
Anyone in the Colorado Springs area probably knows of one of the largest gun shops in the world: Specialty Sports & Supply. Jeff knows that to sell a product he must have the product to sell. So, Jeff has one of everything and many items he may never sell. He now has one of the largest gun shops because it is a destination retailer. People know they can get what they want there. He even lowered his prices to Internet levels pricing. He make profit on volume of sales. One Christmas season he had over 200 NICS checks to complete by 11:00am.
Yup,
Shopping at malls used to be a form of entertainment for wives and women in general. They like shopping, it is fun for them to wander about aimlessly and look for that neat good that they needed but did not know existed. In the 1970s it was possible for parents to drop off their kids and let them roam as well, no one could get in trouble.
It was the middle 1980s that it started to go bad. Once the malls become infested by either black or Hispanic gangs, well the demographic of women and their kids stopped going.
Outdoor malls keep the riff-rif at bay. Both extreme cold and warm will keep them away.
Call the store before going to find out if the item is in stock. Yeah, you have to talk to three people and they’re all idiots but it saves a trip. Also, look online to see if the item is listed as in your local store and compare the price between Lowes and Home Depot.
The outside malls are thriving with shopping clientele. Sidewalks/streets are busy THROUGHOUT the day. The center square with fountains are crowed. There is a waiting list for adjoining apartments/townhouses/condos.
This artist rendition of an outdoor mall would certainly back memories of the downtown shopping of the 1940s-1970s. For many in suburbia...this is their 'downtown'.
Raising hand. I'm the president of that group. If a million dollars were to fall from the sky, I'd still be frugal. People have too much stuff.
Friday, someone was visiting just as I'd gotten back from the grocery store and started griping about me buying out the store. It did no good to explain I only go once a month or six weeks - "Oh, but what if you run out of something or forget to buy it?" Mr. b snapped back (good on him) that we do without until the next month. Apparently, the visitor enjoys the 1 hour and 40 mile round trip just for a milk run.
I had three packages ,I ordered on Friday afternoon ,delivered at 9:45 this morning. Thank you Amazon.
It is not that it is a long drive it is that I am busy.
So we try to go once a month. Same day that the used store is having it's half off sale. :)
And lists make forgetting something a thing of the past.
That’s a great point. My father grew up during the Depression. As adult he made a lot of money but you would barely know it the way we lived.
I made decent money and my kids have been given everything available to them to the point that there was barely a gift to give them at Christmas or on their birthday.
I believe a lot of Millennials grew up like this. They simply don’t want anything because they’ve had everything and have not really been in want or had a need that hasn’t been met.
Personally, I have very little interest in buying anything more. I have everything I need. I’m try to get rid of junk. I don’t need another kitchen gadget or any “As seen on TV” crap or anything else.
Amen. 'Do I REALLY need this, or will it just end up in a yard sale?'
we are going into good, conservative, frugal times I hope, where people are happy with less flaunt and more substance.
The Bush-Clinton-Bush-Obama-Clinton agenda was to eradicate the middle-class, mostly white, most-productive, most-intelligent, and best educated US citizens from the face of the earth.
Spot on government rules are bad for business for the most part but will they see what they have done NOPE.
The one good news is that with a President Trump, the economy is showing signs of life again.
The Trump era ended that viscous cycle.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.