22 Retailers Closing Stores

wwkirk

Celestial
For the past 10-15 years, I've been wearing a particular style and brand of shoe only available from Payless. For that reason I was perturbed when they announced their bankruptcy. A couple of months ago I learned that they had started to operate online. But oddly, the new Payless site redirects to Amazon. Fortunately, at Amazon I found the shoes in question at the original price, and ordered several pairs. I'm not sure whether Amazon bought up Payless' inventory, or what the deal is. Anyway, I made out okay.
 

Dejan Corovic

Celestial
I'm not sure whether Amazon bought up Payless' inventory, or what the deal is.

The deal is, if you are a retailer, you don't even need to have a warehouse. "Fulfilment centers", like Amazon will warehouse and dispatch goods for you. As well you can have a minimum "just-in-time" stock so you minimize risk and increase turnover. It's so much more efficient, it can't even be compared.

All you end up doing is brand development and sales, while the fulfillment center does all the logistics for you. Even one better, you can get "fulfillment" directly from China and even bypass the Amazon itself.

Only people who are complaining are those who don't understand what is going on or, indeed, who are heavily invested into traditional ways of doing things.
 
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nivek

As Above So Below
I have to admit, ever since Kmart and Walmart came into being, I virtually never went to J.C. Penney.

Years ago I used to shop for clothing at JC Penny and Macy's but before the Coronavirus I was going to Kohl's more than those two other stores...Now recently I haven't been buying any clothes, I do need some new sneakers though lol...

...
 

Dejan Corovic

Celestial
Anybody who is in retail business must watch what Mark Zuckerberg is saying here:



This is what I was saying for a long me. Facebook's AI created opportunities for thousands of small businesses to flourish.
 
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