Another retail bankruptcy
– 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.
Keith Wilson: Musingsofanoldfart.wordpress.com