by Chris Isidore, CNN Money
http://money.cnn.com/2015/02/05/news/companies/radioshack-stores/index.html
SUMMARY:
This article discusses the deterioration of the RadioShack brand and the closing of many of its stores. The article details that many RadioShack stores no longer sell attractive merchandise and have become “clearance stores.” Many stores are only worked by one employee at a time, and some stores are only open for 53 hours a week. 200 stores are closed per year, as that is the maximum amount that RadioShack’s lenders will allow. The company is failing as many customers move to the online market to service their needs, and many company filings predict bankruptcy in the near future.
ANALYSIS:
As someone who grew up in the late 90s and early 2000s, my parents frequented RadioShack stores for their electronic needs. Similar to the closing of Dominick’s stores, it seems like the end of an era. Cell phone provider companies, such as Verizon and AT&T, as well as heavyweight electronic companies, such as Apple and Microsoft, have taken control of the electronic market. It has become increasingly easy to purchase electronics online as well, which, as previously stated, has contributed to the decline of RadioShack stores.
DISCUSSION QUESTIONS:
- How do you feel about the closing of RadioShack stores? Does this come as a surprise to you, or did you see this coming?
- When is the last time you frequented a RadioShack store? Where do you generally go for your electronic device needs?
The barren shelves of a RadioShack store.
from“RadioShack employees: Tales from the walking dead”
I am genuinely sad about the closing of this chain. It was fairly convenient to shop at and usually had whatever i needed. this being said it comes at no surprise that they closed. electronics stores like radioshack are not meant to be small outlet stores in large numbers, they need to be more like the store chain Frys. larger and less frequent, they allow more products to be sold because of the space and availability of room in their warehouse sized stores.
ReplyDeleteHonestly, I'm not sure if I've ever been in a RadioShack before, but if I have, then it must have been a very long time ago. From what I've seen, RadioShack seems like it comes second only to Blockbuster as a textbook example of a large retail company failing to adapt to modern technology. Like Blockbuster, RadioShack's livelihood has been threatened by online shopping for a very long time, and despite their recent, boldly self-deprecating advertisement campaign, it doesn't look like they're coming back.
ReplyDeleteI am indifferent about the closing of RadioShack, because my family nor I frequented the store often. We more so looked for our electronics at Best Buy, Target, or Apple Store. I am not very surprised because personally did not know of a lot of people who frequented RadioShack. The epidemic of Best Buy i almost think might have cast a shadow over RadioShack. That is just my opinion. I would say i saw it coming, but I would say that I never thought it would do particularly well due to the competition it is up against.
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