Walgreen/ Riteaid to close hundreds of stores
Most within a mile or 2 of an existing walgreen
Last year marked the closings of retails giants like Toys R Us and The Bon-Ton. This year all of the Payless, Gymboree, Crazy 8 and Charlotte Russe stores in North America will close. Hundreds of Sears, Kmart, Family Dollar and Things Remembered s...
I’m in the construction industry and 10-15 years ago all our company did was build pharmacies. Cvs Walgreens rite aid. We knew they were over doing it then. With that being said the retail apocalypse isn’t necessarily a problem. Better business models are finding new and more efficient ways to better serve customers. That’s not a bad thing.
I am waiting for the convience store and nail salon apocalypse
Then you will all complain about a lack of ratables and the resulting tax increase.
The history of retail is replete with every changing distribution and delivery paths.
Family Stores to Supermarkets to Malls to Super Malls to Factory Stores to Company Stores to Catalog to Internet...…..the beat goes on for less costly ways to get products to consumers. Remember when Factory Stores were a real deal. Now they are company stores with not-so-good a deal. Instead the real deals are on the net.
Today I see the real deal being internet companies, small entrepreneurs taking on any business with fat in the margin. Small guys, smaller footprint, global reach, and blowing away Razor blades, Pet supplies, Pool supplies -----> whoever is taking to much from the consumer is ripe for the picking.
All I know is when I push the button on Chewy kitty litter, the 35lb-er, and it arrives the next day, no charge, meaning I didn't lift it in the store or in the car ---- life is grand.
I can ask Shoprite to go to it's sealed case and get my Gillette or just click on superior lower cost razors that will arrive in days.
When I order bagels, etc. online at Panera and they are waiting at the door when I arrive ---- life is grand.
At CVS, my phone pings me as soon as the script hits the bag in pharmacy and I know it's time to hit the drive through.
I can't see going back from this. What I do see is many small businesses going large on day one. For example, many of our new Main Street concerns start as much more than a store front with sales as far as the internet reaches. That's a great thing for small business, for Main Street, and for all of us who can frequent these small concerns that have a much larger profit model that Main Street could ever provide.
I love much about the future. Too bad people don't change as fast as retail :>(
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