Retailers are going bankrupt at a staggering rate

[GURPS]

'The dominoes are starting to fall': Retailers are going bankrupt at a staggering rate


Payless ShoeSource, hhgregg, The Limited, RadioShack, BCBG, Wet Seal, Gormans, Eastern Outfitters, and Gander Mountain are among the retailers that have filed for bankruptcy so far this year, and most are closing hundreds of stores as a result. On top of those closures, retailers that are staying in business — at least for now — are shutting down a record number of stores.

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In other words, shoppers' habits are fundamentally changing, and some retailers just aren't cut out to survive in the new retail environment.

Traditional retailers with large fleets of physical stores have been hit the hardest.

Visits to shopping malls have been declining for years with the rise of e-commerce and titanic shifts in how shoppers spend their money. Visits declined by 50% between 2010 and 2013, according to the real-estate research firm Cushman & Wakefield.

And people are now devoting bigger shares of their wallets to restaurants, travel, and technology than ever before, while spending less on apparel and accessories.

Queue ToJAM to come in and bash Trump and People who voted for him

 

[Sandybottom]

People are buying online. Why leave your house and have to deal with stupid people?

 

[Grumpy]

You don't adapt to the sales environment you go under, has nothing to do with who's running the country. Of the companies listed, Radioshack made some huge blunders that screwed what was a fairly decent company.

 

[GURPS]

You don't adapt to the sales environment you go under, has nothing to do with who's running the country. Of the companies listed, Radioshack made some huge blunders that screwed what was a fairly decent company.

I think Stores like Radio Shack and Circuit City were numbered when we got Wal-mart and Best Buy .... then Add the internet and Amazon *poof* Gone

 

[stgislander]

For me, Radio Shack blew it when they became just another glorified cell phone store that also sold audio and video equipment. I can still remember back in the 80's and 90's waiting for the RS in St. Mary's Square to open at 10:00am. There would always be a handful of engineers purchasing a last minute or emergency part to get some piece of equipment running. That's where I first learned of MIL-RS parts.

 

[GWguy]

For me, Radio Shack blew it when they became just another glorified cell phone store that also sold audio and video equipment. I can still remember back in the 80's and 90's waiting for the RS in St. Mary's Square to open at 10:00am. There would always be a handful of engineers purchasing a last minute or emergency part to get some piece of equipment running. That's where I first learned of MIL-RS parts.

For me, it was Lafayette Electronics in the 70s. They had really good audio equipment and lots of high-tech parts for hobbyists and designers. I was really bummed when they went belly up. Radio Shack almost filled the void until, like you said, they changed direction.

I still have a 4-channel amp from Lafayette that I use for a portable movie system.

 

[frequentflier]

Try being a small fry Mom and Pop retail store...we will all be a thing of the past if the internet shopping trend continues.

 

[Bird Dog]

For me, it was Lafayette Electronics in the 70s. They had really good audio equipment and lots of high-tech parts for hobbyists and designers. I was really bummed when they went belly up. Radio Shack almost filled the void until, like you said, they changed direction.

I still have a 4-channel amp from Lafayette that I use for a portable movie system.

Do you remember Rural Electronics on Great Mills Road?

 

[GWguy]

Do you remember Rural Electronics on Great Mills Road?

That was before my time here in MD.

 

[Bird Dog]

That was before my time here in MD.

Great store...also a Lafayette franchise....

 

[littlelady]

Try being a small fry Mom and Pop retail store...we will all be a thing of the past if the internet shopping trend continues.

The only thing I shop on line for is 18" mattress sheets for a California King bed. They are hard to find. For everything else, I shop locally. I hope you stay in business. I live in another county now; otherwise, I would shop in your store. Actually, I have shopped in your store back in the day, but you were not there, when I went to my dentist, Dr. Gaylord, across the street from you. I wish the best for your biz

 

[GURPS]

For me, Radio Shack blew it when they became just another glorified cell phone store that also sold audio and video equipment.

now a days you can order directly from Mouser or Digi-key .... hard for last minuet stuff

 

[stgislander]

now a days you can order directly from Mouser or Digi-key .... hard for last minuet stuff

If I need it quick I go with Newark. They have a distribution center somewhere around Greenville SC. Even with UPS Ground shipping, I normally have it in two days.

 

[LightRoasted]

If I may ...

It's because people just don't have the same discretionary money anymore to spend. Online sales are just a small reason. The "fundamental reason" is because people are not making as much as they used to. All their expenses have gone up. Wages have not kept up with inflation. Banks have restricted lending, no new money supply entering into the economy. And in the process this contracts existing money supply in the economy. Business Insider is towing the line and not telling what is really happening.

 

[Warron]

When the choice is spending all day driving all over the county, going from store to store, and only finding crap, or spending 5 minutes online, its not a very difficult choice.

When my computer motherboard failed, I did exactly that. Drove all over looking for a decent mid performance pc and could only find a bunch of $500 paper weights. The best buy in waldorf had a nice one on the shelf, but it turned out to be a display model only. The guy there told me they could order it for me and then walked away when I said I could do that myself while sitting at home.

Its the same with cloths. I either find stuff in my size that I can't stand or stuff I like that is not in my size. Three or four department stores around here that primarily sell cloths and it is all crap. JC Penney's likes to carry a hundred shirts in florescent orange and florescent green. I have yet to ever see anyone at work wearing one, so I have no idea who they are selling them to.

 

[GURPS]

If I may ...

Wages have not kept up with inflation.

and the solution is $ 25 Min Wage ?

Banks have restricted lending, no new money supply entering into the economy. And in the process this contracts existing money supply in the economy.

Why is the Question ..... maybe nothing to back the debt but a promise - the free ride of 'mortgage back securities' is over the well of easy credit has dried up - after being artificial for years

From what I recall about Financial History this has been the cause of a few recessions [banks drying up the money]

 

[GURPS]

When the choice is spending all day driving all over the county, going from store to store, and only finding crap, or spending 5 minutes online, its not a very difficult choice.

Amazon is the shiznet ... otherwise Wal-Mart

 

[Larry Gude]

Try being a small fry Mom and Pop retail store...we will all be a thing of the past if the internet shopping trend continues.

So, why isn't WalMart doomed? Home Depot/Lowes, too, for that matter? I mean, you got to WalMart to get stuff, not to browse the selection. Same with the hardware stores.

I'm thinking of some sort of home delivery model. Shop online, go pick it up or they run it out to you. Turn the stores into inventory and packing facilities and recoup ALL that shopper space. No more need for the massive parking lots.

 

[Grumpy]

I'm thinking of some sort of home delivery model.

Revert to the 50s with all the bread and milk trucks delivering.

 

[Wishbone]

Revert to the 50s with all the bread and milk trucks delivering.

As well as other goods and services...