B & M stores will begin to fail more and more. Commercial space and the overhead required is just insane.
Online shopping is just too easy.
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Then there's stores you have to wonder how the fuck they haven't filed yet... HMV for example.
Didn't HMV go bankrupt a few years ago? They are now Sunrise Records as far as I know.
Not sure the The Bay can follow Best Buy's lead and turn into subleasing floor spaces to brands so consolidation can happen. The question is does the Bay has strong enough e-commerce platform to offer them as well.
Best Buy and Walmart already embrace 3rd party sellers. But retail space is gonna suck with commercial office space to follow as well.
The Bay has a better online shopping experience than the instore experience. Not sure how robust the back end is, but the customer storefront is pretty good.
The Bay needs centralized distribution... one item comes from BC, one local, one from Ontario... the shipping costs of that must be killer with how low their margins must be when everything is perpetually 60% off
They will get there I’m sure... last I heard was the plan was to erode value till it can be taken private and sell off all the $$$ RE holdings
The big retailer that missed the boat on the whole on-line shopping biz was Sears - hell, they had the distribution network already set up what with warehousing all over, satellite stores/order pick sites in smaller centers and a dedicated catalog shopping audience. Man, Sears was so set up to do well in the on-line world and yet they completely messed it up, boggles the mind really.
Geneva Motor Show for 2021 is cancelled, and the show is up for sale.
I think the car show itself is dead.
https://www.bbc.com/news/business-53216329
Looks like Chop @ Chinook is done.
I've thought about that too. They basically were originally doing an 80s version of online order fulfillment for years. Then neglected to update in the early 90s.
They could have been a major Canadian competitor to Amazon.
Hindsight I guess.
Not sure the deal with Consumer Distributings but that company too. I used to look forward to their Christmas catalogue as a kid
Sears dismantled their distribution network around the same time that Consumers Distributing went under. Both models were well ahead of it's time, and very expensive to operate. CD has a lot of features in the end that mimics Amazon, inventory management, home delivery, that shit was expensive in the 90's.
This is another one that's not exactly true from the headline. At the time Netflix was just a money losing DVD mailing rental business. That's what was being offered for sale to Blockbuster. Streaming wasn't even on the radar, and wasn't introduced until 10 years later. If the sale went through, the CEO would've cashed out, and built his streaming company outside of Blockbuster, and Blockbuster would be still be around making $50m a year with DVD by mail.
While i am small timer in the biz world I totally see how businesses simply go bankrupt for not being able to adapt or see the vision. And then you have the Gary V types who has his hands in fkn everything. quite remarkable the biz world.
Anyway, everyone just root for Bezos and buy more Amazon stock lol as he becomes a trillionaire I can finally become a millionaire unless I meet some chick who puts another dent in things but maybe I'll finally smarten up ... doubt it tho lol
Just got my haircut for the first time in 4 months and Im going to put barbers on the watchlist - the owner said due to Covid19 there are no special events which they rely on to keep their type of business afloat, meaning no grad, no stampede, no fathers day, not many weddings etc. He is hoping that school resumes back at school in September and people come in for that or he said that their industry is going to be really in a bind.