Re: Sears closing 43 more stores

Posted by wisbaker on July 09, 2017 at 19:54:41 from (173.30.119.179):

In Reply to: Re: Sears closing 43 more stores posted by oldtanker on July 08, 2017 at 21:32:54:

Naw they abandoned retail, much of their previous success was based on the Sears card, folks could buy from them on time, they made money on the credit, their leader ship moved towards being a financial
services company and retail became something they did on the side. Then the traditional credit card came out (Master card and Visa) and folks could buy on time from anyone, putting the focus back on retail,
buy that time they had lost their soul and heart for retail. They missed the big changes in retail over the last 40 years, From the everything under one roof super centers and the home improvement centers,
they failed to morph their mail order business into E-commerce and they didn't make ay inroads into a new business model in their automotive department. There were opportunities, they just missed to many of
them. Their associates are not judged by the amount of sales they make but whether they get the credit card application, the loyalty card/ customer rewards application or sell the service contract.

Let me tell a joke and use it to frame how the minds of Sear's executives work or don't work. There was a tail about a young man who was hired on to work in a Mega-center, the total shopping experience and
after a week's training was turned loose on his own. At the end of that day he was asked how many sales he made and he replied "1", and the man's boss proceeded to explain that he was expected to make 15-20
sales each shift. Then trying to further explain to the young sales trainee the economics of retail he asked the young man the dollar value of his day's sales. Much to the bosses astonishment the young clerk
replied $260,000. They boss, getting a little excited says $260,000, HOW? The young man replies well first I sold him the bait, and then asked him if he needed a fishing license renewal then I convinced him
he'd catch more fish with a new rod and reel, then as we were discussing fishing from the bank verses fishing from a boat I sold him a new boat, motor and trailer and then I got him to believe that his new
boat didn't look good behind his old truck so I sold him a new pick up. The boss totally astonished asked the sales clerk "Let me get this straight, a guy walked in here for some bait and you sold him a rod,
reel, tackle, boat motor and trailer AND a pick up truck to boot? To which the employee replies "no, he came in here looking for a box of tampons and I said dude you're weekend is shot, you should go fishing!"

If this had happened at today's Sears the employee would be due a warning for poor performance as he didn't get the credit application, loyalty membership or service contract. Sears is failing in retail
because their focus is not on retail but on ancillary incidental products. Their leadership has faith in the ancillary and incidental products, maybe more than is warranted and it looks like they're ready to
ride their beliefs all the way to the bottom. Their focus, and placing blame on the retail associate as well as making some unrealistic goals for their associates on these ancillary products is evidence that
their focus is not and has not been on retail for years. Sears had a lot of value in their brands, yet they never made anything. The value of Craftsman, Die Hard, and Kenmore was in the service they added to
the product and years ago partially because they'd give you an open line of credit so if your car needed a battery you could pay for it a couple of dollars a month, if your washing machine dies you could have
a new one for $7 a month. Master Card and Visa took some of that away but in the long run by focusing on the ancillary products incidental to the sale the focus shifted away from being able to provide goods
and services to people at a reasonable price while making a profit. Say what you want about Walmart but if I go into a Walmart and spend $50 I'm pretty sure they made money on that sale no matter if I paid
with cash, credit or ATM they netted a profit. That ladies and gentlemen is what you call a sustainable business model, Sears no longer has one.

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