Showing posts with label on line. Show all posts
Showing posts with label on line. Show all posts

Sunday, February 5, 2023

Apocalypse for 16 retail giants in the US

Every generation needs a revolution - an entrepreneurial revolution

Brutal closure of 16 retail behemoth in US  The pandemic and recent external factors have been most unkind to the biggest of the retail establiishments in the US It is incredible that this should happen in USA - the most powerful and strongest nation and earth and center of most excellent management.

The management did not pay attention to the wings of change:
1.   The shift to on line shopping   Amazon was ready and poised to take advantage of this development
      Even CVS which is engaged in health products was not exempt.  Health products should have been
      failure proof..  Shoppers did not need to go to brick and mortar store.  They simply order online and
      delivery companies handle the rest

2.  Quality, high end garments like Brooks, JCPenney failed because WFH did not require elegant suits.

3.  As usual, vulture investors were waiting in the wings and ready to rehab and rejuvenate many of the 
     failing companies  Some were usually behind hope like Sears.  (This follows the business truism that
     wealth is not destroyed, it is simply transferred -  I disagree   Wealth can be lost by fire or theft)

4.  High gasoline prices and other effects of inflation lessened shopping money 



 
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