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The great retail apocalypse
Posted on 4/10/17 at 10:03 pm
Posted on 4/10/17 at 10:03 pm
It's happening and not just due to Amazon.
LINK
LINK
quote:
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.
This post was edited on 4/10/17 at 10:05 pm
8
Posted on 4/10/17 at 10:32 pm to TejasHorn
Good read. Thanks for sharing. 
Posted on 4/10/17 at 11:19 pm to TejasHorn
I hate shopping online for clothes, guess I'll be SOL.
Posted on 4/11/17 at 12:09 am to TejasHorn
Part of this is their own fault. I understand they have to make money to thrive but sometimes prices are a deal breaker.
For example, I went to academy and picked out 6 shirts that I liked and a pair of shoes. Those same 6 shirts on amazon were $12 cheaper each and the shoes were $40 cheaper. I added them to my cart and and had them on my doorstep in 2 days for a savings of $112.
Polo does this also. T shirts in stores are like $30. On amazon, they're half the price.
For example, I went to academy and picked out 6 shirts that I liked and a pair of shoes. Those same 6 shirts on amazon were $12 cheaper each and the shoes were $40 cheaper. I added them to my cart and and had them on my doorstep in 2 days for a savings of $112.
Polo does this also. T shirts in stores are like $30. On amazon, they're half the price.
Posted on 4/11/17 at 12:27 am to Tres7139
I worked at Academy between jobs and we had a guy buy over 5 k worth of clearance merchandise to resell on the internet at a profit. I bought 4 long sleeve polos for 14 bucks at Kohls last month after kohls cash and discounts. If you play your cards right, you can get stuff at retail stores for dirt cheap and at least you can try it on.
The brand name stuff at retail stores is usually a ripoff. Generic brands like BCG at Academy are great values. Retail stores have to have low cost alternatives to survive, I bet Dicks goes under within 5 years.
The brand name stuff at retail stores is usually a ripoff. Generic brands like BCG at Academy are great values. Retail stores have to have low cost alternatives to survive, I bet Dicks goes under within 5 years.
This post was edited on 4/11/17 at 12:29 am
Posted on 4/11/17 at 12:33 am to TheWalrus
Oh I agree with you but I've noticed every time I go get some clothes at tj maxx, they end up being ruined after a few washes. No doubt about Dicks, the prices are insanely high for the same stuff you can get cheaper in academy or online.
Posted on 4/11/17 at 4:12 am to Tres7139
quote:
Part of this is their own fault
The part where they hired minimum wage idiots that are of zero help to save money in order to maximize shareholder returns is 100% their fault.
Asking a sales clerk a question in most retail settings these days is an exercise in futility.
Posted on 4/11/17 at 5:31 am to cave canem
quote:
Asking a sales clerk a question in most retail settings these days is an exercise in futility.
"Fight for Fifteen"
Posted on 4/11/17 at 6:20 am to TejasHorn
This, and that more and more young people care more about vacation and clothes. They would rather go experience a place than spend it on stuff.
Posted on 4/11/17 at 7:10 am to TejasHorn
I don't know where y'all are at, but here in Dallas, you go to mall on weekend, it's packed. Retail will still work, but you have to keep up with the times. Ralph Lauren, American Eagle, Macy's, Sears, and J.C. Penny have done none of that. Just a lot more competition now, but not necessarily from Amazon.
Posted on 4/11/17 at 7:23 am to southernelite
quote:
I don't know where y'all are at, but here in Dallas, you go to mall on weekend, it's packed. Retail will still work, but you have to keep up with the times. Ralph Lauren, American Eagle, Macy's, Sears, and J.C. Penny have done none of that. Just a lot more competition now, but not necessarily from Amazon.
I agree with this. I was banging a chick who was JC Penny purchaser and she had her best Christmas season last year.
Posted on 4/11/17 at 8:52 am to TheWalrus
quote:
If you play your cards right, you can get stuff at retail stores for dirt cheap and at least you can try it on.
Or you can get it for this price online anytime you want to without having to check for sales, time it right, ect.
FWIW I buy my clothes in store because a lot of stuff doesn't fit me right so I have to try it on, but if I was 5'11" 180 I would by everything online.
Posted on 4/11/17 at 8:54 am to TejasHorn
I really don't understand why companies haven't done more to integrate online and storefront marketplaces.
Case in point. My wife purchased some uniform pants for one of our kids on Gap.com. They come in, they are too small. We go to a Gap store to exchange them for the next size. They have the exact same pants in store. But, they are more expensive in store. Because of that, they refuse to exchange them - if I want the size in the store, they would give me a credit for the online price and charge me the store price, meaning I would actually have to pay to exchange them.
However, if I shipped them back to Gap (at my cost) they would send me the correct size - free of charge.
Of all companies, WalMart seems to be figuring this out. The WalMart grocery by my house, you can go online, order what you want, and then go pick it up at the store usually the next day.
Online will never fully - or even come close to fully - replace brick and mortar... but the crappy brick and mortar companies that don't adopt will go away.
Case in point. My wife purchased some uniform pants for one of our kids on Gap.com. They come in, they are too small. We go to a Gap store to exchange them for the next size. They have the exact same pants in store. But, they are more expensive in store. Because of that, they refuse to exchange them - if I want the size in the store, they would give me a credit for the online price and charge me the store price, meaning I would actually have to pay to exchange them.
However, if I shipped them back to Gap (at my cost) they would send me the correct size - free of charge.
Of all companies, WalMart seems to be figuring this out. The WalMart grocery by my house, you can go online, order what you want, and then go pick it up at the store usually the next day.
Online will never fully - or even come close to fully - replace brick and mortar... but the crappy brick and mortar companies that don't adopt will go away.
Posted on 4/11/17 at 11:36 am to LSUFanHouston
I think companies generally over analyze the large investment it takes to play well in ecommerce. For much of retail, fhe reality is that a well functioning ecommerce experience is tablestakes. If you fall short on that customer experience, then you lose that customer both online and in brick and mortar. This is a customer lifetime value investment and businesses need to stop measuring ecommerce PnLs separately because it drives a lot of bad behavior.
Posted on 4/11/17 at 12:32 pm to LSUFanHouston
Yep I agree. Reason why I shop on Amazon for 90% of things. If I receive an item that I don't like or it doesn't fit, I usually chat with "Derek" in Saudi Arabia and they give me an instant amazon gift card for my return. I get my correct size in less time than the return gets back.
Posted on 4/11/17 at 12:38 pm to Tres7139
quote:
Part of this is their own fault.
Well its almost 100% their fault. First off, you had amazon and other online retailers which keep prices low. So you have to compete on something else, either a unique selection or increasingly an experience.
And frankly the brands listed don't compete on that. They are trying to compete on price in a world where that doesn't work.
There are a ton of companies that are able to compete on these things, and they do well. But the retailers who don't get it are getting crushed. GAP is a great example. They used to be a great vendor, fashionable clothes at a reasonable price. Now they charge the same as BR, but have old navy quality. Why would buy anything from teh gap when they can buy almost the exact same thign for 1/2 the price at old navy?
Posted on 4/11/17 at 12:43 pm to Hawkeye95
quote:
GAP is a great example. They used to be a great vendor, fashionable clothes at a reasonable price. Now they charge the same as BR, but have old navy quality. Why would buy anything from teh gap when they can buy almost the exact same thign for 1/2 the price at old navy?
Interestingly enough, all of those are owned by the same company.
This post was edited on 4/11/17 at 12:44 pm
Posted on 4/11/17 at 1:45 pm to Teddy Ruxpin
quote:
Interestingly enough, all of those are owned by the same company.
that was the purpose of my example.
Posted on 4/11/17 at 2:43 pm to Hawkeye95
quote:
Well its almost 100% their fault. First off, you had amazon and other online retailers which keep prices low. So you have to compete on something else, either a unique selection or increasingly an experience.
And frankly the brands listed don't compete on that. They are trying to compete on price in a world where that doesn't work.
There are a ton of companies that are able to compete on these things, and they do well. But the retailers who don't get it are getting crushed. GAP is a great example. They used to be a great vendor, fashionable clothes at a reasonable price. Now they charge the same as BR, but have old navy quality. Why would buy anything from teh gap when they can buy almost the exact same thign for 1/2 the price at old navy?
The lessons we all learned in the first day of economics class still apply.
You can compete on price, or you can compete on quality/experience. But you have to choose one or the other. Playing in the middle will eventually get you squeezed.
All of these retailers in trouble have tried to play in the middle.
Posted on 4/11/17 at 2:56 pm to Hawkeye95
Oh ok, that is also humorous. There really is some ridiculous branding going on, especially in lodging.
I think Marriott has over 25 brands now
I think Marriott has over 25 brands now
This post was edited on 4/11/17 at 2:57 pm
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