Everything On Demand

Big name stores in America that had seemingly been doing well in the modern market have been closing in drastic numbers over the last 7-8 years. There is a number of very popular examples we can choose from but today I want to focus on 3 main stores and what caused them to fail. First, in the infamous Blockbuster chain over video rental stores. With a growing number of On-Demand multimedia platforms on the rise across the internet like Netflix, Amazon Prime, and HULU it comes to no surprise that blockbuster was doomed to fail eventually. Simply being able to instantly access media from your home will always have an advantage over having to actually go to a store and back to return an item. This brings me to my next 2 stores, Toys r US and Radio shack. Largely affected by large online shops like Amazon, stores that provided specifics goods where overshadowed by one online retailer who could provide all in one location. This also includes the time saving aspect of not actually going to a store. These store going out of business have positive and negative impacts. It positively effects the consumer largely based on convenience and pricing. In turn it negatively effects hundreds of thousands of workers that were employed by these stores. If this will have a large positive or negative impact on our country we will wait to see, but the impact can be felt either way.

 

https://www.forbes.com/sites/gregsatell/2014/09/05/a-look-back-at-why-blockbuster-really-failed-and-why-it-didnt-have-to/#4f6eb7a11d64

https://www.usatoday.com/story/money/retail/2018/03/21/retailers-filing-bankruptcy-stores-closing-2018/442567002/

https://www.usatoday.com/story/money/business/2017/05/31/radioshack-closes-1000-stores-week-these-72-left/102372912/

 

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