6 Retailers That Collapsed in the Last Decade

RICH DUPREY | January 1, 2020

article image
As 2009 came to a close, we were still surveying the wreckage of the financial markets' collapse and the worst economic recession the U.S. suffered since the Great Depression. While many industries were shaken, it was really only the beginning of the carnage that would spread across retail, a malaise that in many ways continues today. Certainly the financial underpinnings of the market hurt the industry, but the rise of e-commerce to assume an essential role in how consumers shop would forever change the retail landscape. Below are six of the most notable retail failures that occurred over the last decade. Because of the ubiquity of streaming video today, it seems hard to believe that 10 years ago, it was still possible to walk into a Blockbuster store and rent a movie on DVD. But the video rental chain was by that point creaking along to its demise as Netflix flourished.

Spotlight

Chubbies Shorts

We know shorts. We love shorts. To us, pants are a necessary evil - built for the work week because your boss just doesn't get it. You see a Chubster in pants or cargo shorts and he looks like a fish out of water; a radical fish that's probably krumping on the beach, but nonetheless OUT OF WATER. But this exact passion for shorts is why Chubbies are so righteous. We have put painstaking effort into these shorts. We have engineered them for the toughest shorts critics - ourselves. And after years of development and fine tuning, we have finally emerged with a product that meets - nay, exceeds - our highest standards for shorts excellence.

OTHER ARTICLES

Fashion retailers may have to write-off £15bn worth of spring and summer stock

Article | April 15, 2020

Unprecedented volumes of clothing are building up in warehouses as fashion retailers are unable to sell their spring and summer stock. The majority of physical shops in the UK remain closed under the government’s current lockdown measures, with sales of non-food items down by 70 per cent according to research by Retail Economics and Alvarez & Marsal reported by the Times. The study found that more than 50 per cent of non-food retailers in the UK will likely run out of cash in the next six months, with all major non-food retailers operating in negative cash flow at present.

Read More

Retail warehouses - omni-channel fulfilment essential or Coronavirus breeding grounds?

Article | March 31, 2020

Recent coverage of the pressures on the retail supply chains during the current global health crisis has made reference to the essential roles of the back end warehouses and distribution centers that power the fulfilment of online orders. In recent days, these have come front-and-center of attention as concern has grown about the well-being of the people working in them. Ocado’s robotic warehouses are very far from the norm. Behind the scenes at the vast majority of facilities is a human workforce now in search of reassurance that their health is being taken into account.

Read More

How does Technology help in Business Growth?

Article | February 12, 2021

For every business leader, growth is the key goal. No matter what the size of the business one leads, their strategies revolve around the overall growth of the company. However, the main challenge that they had to face is to gain the lead most cost-effectively and feasibly. Nowadays, businesses are utilizing technology to integrate, automate or redesign their process operations. It has helped them in acquiring streamlined processes, minimal cost, and enhanced production. But how technology can help in strategizing for business growth? Here, the digital transformation of the business is the force driving success and growth. So let’s understand what is needed to gain exceptional results. Cloud Computing & Business Cloud computing has been around for a long time now. It can not only increase efficiency but also offers better security and fast process operation. To make it highly effective and enjoy its full benefits, it’s important to take help from an experienced team. Also, businesses can choose from the wide range of cloud service providers available in the market according to the requirements. Applications Honestly, the number of smartphone users has increased in recent years. So to make the product and services reachable to a larger range of customers, organizations need to hire developers and develop web or mobile apps that are responsive and user friendly. It is the best way for gaining success in any business. Social Media Social media like Instagram, Facebook, Linked In, Twitter, etc. have changed the way people interact with each other and brands. It makes the social media platform a gold mine for businesses. All that an enterprise needs to do is create a business profile and start targeting the potential customers while connecting and engaging with them. It helps in increasing attracting, offering, and sharing products or services with the audience. Big Data Analytics The last and most important factor in any business growth is data. The growth strategy of a business should be supported by relevant and valid data. To use data effectively, business leaders need to learn the way to collect data around the internet and analyze it for achieving valuable insights. With the right data in the pocket, companies can easily adapt powerful strategies, approaches, and plans instantly to give an unbeatable boost to their business. Conclusion Undoubtedly, technology gives a high potential for strategizing foremost business plans. But, the entire process of digitizing business will take time. However, by listening to the customer and identifying the right tools, businesses can enjoy digital value. All that organizations need to do is keep themselves updated with new technology tools and trends that can highly impact the business growth.

Read More

How A Toy Retailer Is Adding Quality Play Time To Quarantine

Article | March 25, 2020

There are 32 million kids under the age of 14 in the U.S. This week, and for who knows how much longer, they will be home from school due to the COVID-19 crisis. It may sound like a situation that will try the patience of any parent. But Bill Onderdonk, COO of high-end toy and game company KiwiCo, tells PYMNTS CEO Karen Webster that he thinks he has a solution. “If you want to spend quality time with your kids, they’re great projects for two or three people to do together,” he said. “So that’s sort of the other flip side of this crisis. On a broader scale, parents are concerned about how much time kids are spending in front of screens, whether that’s video games, phones or social media. Our products are a great alternative, because they are engaging and fun for kids.”

Read More

Spotlight

Chubbies Shorts

We know shorts. We love shorts. To us, pants are a necessary evil - built for the work week because your boss just doesn't get it. You see a Chubster in pants or cargo shorts and he looks like a fish out of water; a radical fish that's probably krumping on the beach, but nonetheless OUT OF WATER. But this exact passion for shorts is why Chubbies are so righteous. We have put painstaking effort into these shorts. We have engineered them for the toughest shorts critics - ourselves. And after years of development and fine tuning, we have finally emerged with a product that meets - nay, exceeds - our highest standards for shorts excellence.

Events