Alec MacGillis shares in the Times how online shopping and Amazon in particular are wrecking havoc on retail.
Highlights:
Nationwide, 9,800 stores shuttered in 2019, among them 220 Sears stores.
Analysts predict that brick-and-mortar store closures could reach 25,000 by year’s end.
J.C. Penney, Neiman Marcus and J. Crew filed for bankruptcy, Macy’s furloughed nearly all of its 125,000 workers for months, and countless independent businesses have closed for good.
Did you know that J.C. Penney was based in New York City? Seems a bit odd for a business that resembled a frontier store. Today's WSJ reviews a book about James Cash Penney and how he spent his retirement on helping farmers.
As a follow up, I googled J.C. Penney being headquartered in NYC. Sure enough, this article shares how it moved to Dallas from NYC in 1987:
Please see below. This article from today's Wall St. Journal explores the expectation for free shipping when buying online. My advice to clients: - Let's better promote our free shipping offer for orders made online. - Let's e-mail a coupon to past customers either for an amount off the purchase, or something about free shipping. - Can we lower our free shipping baseline, or offer a free upgrade to quicker shipping? aka: 2 day shipping?