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Its interesting that none of the case study results faced reality; you're obsolete, pivot or close. Lots of long winded meandering that boils down to fiddling
by VLM 11y ago
Its interesting that none of the case study results faced reality; you're obsolete, pivot or close. Lots of long winded meandering that boils down to fiddling while rome burns. You've got legacy revenue for awhile, real estate, and employees, take advantage of it and pivot. "I know, we'll try to undercut the entire internet" LOL "We'll just work harder than everyone else" LOL "We'll sell only the most expensive products to the richest customers because they like to waste time" LOL "We'll define excellent service as being obnoxious and in your face as possible" LOL The first consultant is featherbedding "We need more consultants to get more data".
For example, Barnes and Noble has abandoned selling books and has pivoted semi successfully into "convenience store for birthday gifts" complete with wrapping. They still have a section of the store for books, but its not really a book store anymore. They have a better chocolate section than my local discount grocery store! In the specific example, moving in on B+N turf isn't going to work as a strategy unless you think you can out B+N, B+N itself.
AFAIK no one has ever tried food and consumer electronics shopping, so eat "real" food while showrooming sample TVs and then order one shipped to your door. This is not entirely insane. A liquor license and pleasant wait staff might discourage showrooming... "Hey everyone gets a round on the house, Joey bought a new TV" woo hoo ...
Something to think about is there is more retail CRE square footage today than ever in the history of the country and its all more or less becoming useless as currently designed and zoned. You may end up pivoting totally out of old fashioned retail, perhaps a fitness club, or barber shop, or restaurant. You want to be the first retail market to become an exercise club not try to be the last. Locally food and other retail stores that have closed have successfully opened as credit union branches, exercise club, restaurants, and car dealerships, more examples probably exist. To make a large scale national strategy, it might be useful to gather this small scale success data. Apparently you cannot pay the rent selling turnips in that specific retail frontage, but you can pay the rent selling time on a bench press machine, interesting...
Alternately you can ride right down into a crater, like that crazy general in Dr Strangelove, if it no longer works just keep on doing what doesn't work but harder than everyone else, what could possibly go wrong? In all honesty if you have no future it does show bravery of a sort to keep doing what you're doing until the bankruptcy, but admit what you're doing, at least, you're just riding a dead business model until impact with the ground, milking the last cash cow till it becomes pink slime.
- mindslight 11y agoYeah, I can't help but scream at every one of their lame proposals: This is what drives people to buy online in the first place! What's never mentioned is simply having their every day price match the online prices. But this is so glaringly obvious I assume it's simply financially impractical. I've really got to wonder what kind of margins they have to bridge? Lobbying their state to drop sales tax and being 5-10% higher than online, but being open about it and marketing based on immediate service might work. Then again if it's a 30% chasm the situation seems quite hopeless. As an aside, I wonder if they could get manufacturers to supply floor models gratis, or even paying a little for exhibition. After all, a brick and mortar store is essentially a giant billboard. Much better than some "minimum advertised price" anti-competitive bullshit.