Warm Memories of Bankrupting Company: Keith

Published March 1, 2021 by Nan Mykel

Another retail bankruptcy

– Retail malls were over built to the extent we have many thousands of unneeded malls just in this country. Rather than improve a mall, new ones were built, often cannibalizing on existing markets for the stores.
– Walmart had a significant impact on retail stores, leading the way for the other discount retailers to eat away at margins for others. When Walmart came to town, other retailers went away.
– Online ordering put brick and mortar stores on notice and many out of business. The ones who survived, blend online with in-store purchasing, better than others. Even Walmart was harmed by the online effort and had to react.So, the pandemic comes along and those store franchises that were teetering, fell down. There will likely be more bankruptcies in the future. All stores must now compete against cheaper and easier online sales. Those store franchises with better customer service models stand a better chance at survival, but all are at risk, unless they can embrace online sales along with in-person sales. Nevertheless, COVID has put a damper on in-person sales and will continue to do so.
When I think of Belk’s, I think of my grandmother who worked there for years in a small town in Georgia. She worked for a local retail company that sold themselves to Belk’s. She ran the children’s department, then later ran the men’s clothing department. Many of her customers truly grew up with her.Her favorite story was the day Mr. Belk came into the store. He toured the store and needed to borrow my grandmother’s pen, which he put in his pocket by mistake. My grandmother said, “Mr. Belk, that is my pen. My boss is to cheap to buy us pens, so if you want me to do my job, you need to give it back.” It should be noted her boss was standing right there.My grandmother was all about relationship sales. Her customers would come back after college and ask for her to outfit them in new suits, since they trusted her. And, that is why retail stores do have a market when done right. Relationships. Trust. Customer first. Yet, if they don’t get the technology end right, it will be for naught.

Keith Wilson:   Musingsofanoldfart.wordpress.com

 

2 comments on “Warm Memories of Bankrupting Company: Keith

  • Please share your own experiences here...

    Fill in your details below or click an icon to log in:

    WordPress.com Logo

    You are commenting using your WordPress.com account. Log Out /  Change )

    Google photo

    You are commenting using your Google account. Log Out /  Change )

    Twitter picture

    You are commenting using your Twitter account. Log Out /  Change )

    Facebook photo

    You are commenting using your Facebook account. Log Out /  Change )

    Connecting to %s

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    R2030 - In hope of a better decade

    Personal and political, creative writing and art.

    By Hook Or By Book

    Book Reviews, News, and Other Stuff

    fgsjr2015

    My writings of fiction, essay, poetry, observation & commentary

    Intellectual Shaman

    Poetry for Finding Meaning in the Madness

    madnessatthegates

    Culture and Politics from a Mythological Perspective -- Big ideas in plain English

    In Saner Thought

    "It is the duty of every man, as far as his ability extends, to detect and expose delusion and error"..Thomas Paine

    Lignes invisibiles

    Invisible lines associating ideas, creating images.

    Ned Hamson's Second Line View of the News

    Second Look Behind the Headlines - News you can use...

    kristalhunter.wordpress.com/

    guided by the light of the moon and stars. Bringing Consciousness to modern music one verse at a time.

    The Truth Seeking Atheist

    We should all care about what we can reliably determine to be true.

    The Renegade Press

    Tales from the mouth of a wolf

    Blinksleep

    Wake Up to Your Life

    SoundEagle 🦅ೋღஜஇ

    Where The Eagles Fly . . . . Art Science Poetry Music & Ideas

    A Napper's Companion

    by John Coleman

    An Array Of Blogs

    Showcasing some of the best blogs the Internet has to offer...and more

    WordPress News

    WordPress News

    Heni's Happy Paintings

    Paintings for Kids and Kids at Heart

    The Past 24 Hours Or So

    Your Daily Dose of Trump and His Administration News

    %d bloggers like this: