Another One Bites The Dust

Yesterday, brought us the news of yet another liquidation of assets from a bedrock of American retail.  The only thing that bothers me, other than the unfortunate loss of jobs for the affected employees, is that “the economy” gets blamed for this action.

circuit

Circuit City joins a growing list of retailers (including Mervyn’s, K-B Toys, and Linens ‘N Things) that have recently announced their intent to go out of business.  And there will be more to come. 

Paco Underhill, a retail anthropologist and author of Why We Buy: The Science of Shopping, said he expects more retailers to close, paving the way for massive change.

“Retail historically is about birth, life and death. It frees up space and people for more creative uses,” Underhill said.

Look, retail is really simple – adapt or die.  The chains that are leaving us will not be missed.  Sure, there is a nostalgia factor associated with losing a favorite “brand” once it’s gone.  But the reality is that these chains have been dying on the vine for some time.  If “the economy” is the ultimate last domino that forces it to fall, then so be it. 

This is not the time to wallow in self-pity, America.  Now is when our most creative minds need to be focused on redefining an economic landscape that creates opportunities for a new generation of American workers and challenges our businesses to keep up with those around the world.

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~ by acm213 on January 17, 2009.

One Response to “Another One Bites The Dust”

  1. Circuit City is out of business because they weren’t innovative and Best Buy was, plain and simple. What do all of these companies have in common? Bad management. Don’t worry about Circuit City employees. There will be plenty of new Best Buys popping up looking for new employees.

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