What's Next For Retail?

Post Date

Mon, 06/19/2017 - 00:00

Categories

Lifestyle

I remember, when I was a child, numerous small stores thrived in my town; clothing stores, book stores, hardware stores, shoe stores etc. I have so many memories of my Mom taking my brother, sister and I for back to school clothes at Chwatsky’s or new shoes at Jack’s Correct Fit. And, of course, the owners knew my Mom by name as well as me and my siblings. One by one as malls and larger department stores opened the small “mom and pop” stores closed. At that time, the large department stores were viewed as the dreadful enemy of the smaller local stores.

Currently, all the news you read about larger retailers is severe. Macy’s recently announced over one hundred stores will be closing. JC Penny’s recently released a list of approximately one hundred and thirty stores that will be closed. Other retailers closing their doors include RadioShack, Payless, and Sears.

And while one is quick to blame internet retailers for the demise of the brick and motor stores, I have to wonder whether this is some sort of natural progression of retail. Large retailers replaced smaller stores and now internet retailers are replacing the large retailers.

What’s next?

Comments

Fred Klein

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If the climate gets worse we would never have to leave our bubble.

Corey Bearak

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Certainly the big malls show signs of investment and offer entertainment options more often. Notice mini-golf on last visit to Roosevelt Field. People do like to leave home (still).

Theodore Lanzaro

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I think part of it has to do with service also. Big stores often have horrible service. The small stores that have survived do so because they offer service that big stores simply cannot. Sears is a perfect example of a store whose service is horrific. They deserve to go bye-bye. Nordstrom's is an example of a store whose service is typically excellent. Salespeople are typically consistent and remember you and your preferences.

Daniel Schwartz

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65% of people like to "touch" a product before purchasing. That should insure some form of retail, at least when it comes to clothes, electronic devices, furniture and housewares. I think on line will replace a lot, but people still will want to shop. Just as stadiums and ball parks have become centers to eat and be entertained (other than the sport), so will malls attract with the various side shows as the smaller stores close down. People also prefer to return items in person, so maybe on line retailers will have return centers vs. full line stores.

Arlene Haims

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Mom and Pop stores were the backbone of our economy. Unlike the big box stores, when one of the small ones went out two more could pop up. When a big box store closes it hurts the economy in lost wages. That's a big deal. And the service in the small stores was just wonderful!
The internet is still so impersonal, although I use it sometimes, Though, I still prefer to feel the merchandise or try on in order to make my decision. I like that feel good moment at the store and I hate returning things through the mail. I guess I'm just "old school"

Ellyn Finkelstein

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Still love shopping the smaller stores for that personal touch. However, I also order online as well. Sometimes you get lucky with that. Other times it is a pain to return via the mail. Whats next? More online shopping for sure.

Nancy Schess

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Definitely change in the air.

Robert Schwartz

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I own and run a 3rd generation family jewelry business. We grow and exist because we are built upon excellent customer service, transparent and open communications and sales practices and providing unique and specialized services and items. We not only sell, service and repair jewelry, we do custom design, custom redesign, estate jewelry, we provide appraisals, insurance valuations, we assist in divestitures, divorces, estate planning, custom stone cutting and repair, purchase, auction and consignment. By providing education and information to our customers they feel comfortable and confident in a field that is not dominated by brand names and usually revolves around larger and more significant purchases. Further, in providing services that cover all aspects the field, our customers can address all related needs with us. I feel that jewelry is a very personal purchase and most people want to touch, try on and see what they are buying.

Robert Schwartz

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I have another opinion on retail in general, people are losing sight of the whole “Walmart” syndrome which will soon be referred to as “Amazon” syndrome. I am really at a loss to understand how it is an accepted business practice to run companies on this new model of aggressive grown and acquisitions at a major loss vs the traditional model of moderate growth at a healthy profit. If you keep acquiring companies in an effort to cut prices, weaken brands, eliminate completion you eventually eliminate millions of jobs in the process along with the elimination and reduction of competing brands and products. In the end who is left with the disposable income necessary to buy all the products they want to sell.