Tech killed the department store – supermarkets are next
The internet and lack of foresight and nimbleness killed the department store. Them going will have no bearing on our ability to get stuff. It’s just sad to hear of lost livelihoods, empty hulks on the high street and the failure by companies at the top to embrace change. It’s the end of department stores in the UK. It’s the same in the US. Samantha Oltman, editor of Recode, writes:
As we near the end of 2020, the prognosis for the American department store is grimmer than it’s ever been. The reasons extend far beyond Covid-19 or even the continued rise of online shopping, and have more to do with trends in the American economy that have been shrinking the middle class while enriching the already wealthy. That’s why the decline of these retail giants is something to pay attention to. They employ hundreds of thousands of people and occupy an outsize space in our communities; their gradual disappearance, as well as what is replacing them, tells us something about where we’re headed.
It’s about spending money. A corporate-run department store at the heart of a community should not be missed. They were ruthless in their murdering of mom and pop stores. You should open wide and say ‘ahh’ and check if Tesco has opened a branch inside you. Tech killed the department store. The ones still in existence are just roofed concession and franchise stands. And tech will kill supermarkets. Speciality can be delivered to your door at a click.
Posted: 5th, December 2020 | In: Money, News Comment | TrackBack | Permalink
