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Demise of retail stores

Store Closing

http://OfPolicies.com

Surely online shopping is siphoning sales from retail stores (even though the retail chains have tried to capture online sales on their own web sites).  But another factor is that the number of stores and malls built in America over past decades was absurd.  I saw a statistic on the retail square footage per 000 inhabitants in the US compared to the retail store footage in advanced EC countries and it was something like six times more in the US. It’s nuts.

I often go into retail stores with few shoppers, three out of 10 check outs are operating and most department counters are unmanned so you have to track down a sales attendant to ask to see a watch.  (I bought my last Seiko online……for less than in the Penny’s store.)  A nice major supermarket chain store here closed down on Monday and no tenant is lined up to take its well located space.  I added up the number of full sized supermarkets in our metro area (excluding smaller specialty stores like Aldi, Fresh Market, Trader Joe’s).  There where 9 full supermarkets.  I read that the typical ratio in that business is one supermarket for about 10,000 population. Too many stores for our metro area.  LM)

Eventually all that will be left of retail stores are specialty shops and manufacturers show rooms.  Example: Tesla has a show room where you may inspect a new car but cannot purchase it.  In order to buy, you can either use the show rooms computer to get on line and select your model and options or go home and use your own computer. store closings

There is no high pressure salesman putting the thumb screws on you to hurry as this is the last model and there are other anxious buyers or if you buy this instant you can get an instant discount off of the quoted price via a hungry sales manager, etc. There is no negotiation of the price or options or delivery date, usually 3-6 months depending on the demand.A buyer I know waited 3 months for his Model X, picked it up and left his Model S as a trade with the show room.

Batteries last about five years and then either must be replaced or the car traded at the show room.  I think that food stores may still survive in conjunction with other items that have a short shelf life.  One of a kind specialty items such as designer clothing, big item hw stores such as Lowes,rental stores, and liquor stores will always be around but not much else.  -PT

 

Source: LM and PT OfPolicies.com

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