SEARS! HOW MIGHTY IT WAS! HOW MUCH IT HAS FALLEN!A Story by Investor 2024This is a look back at Sears Roebuck & Co., once America's largest department store, but now a shell of its former self.
1978:
"Sears is where America shops for the life we lead. Sears is where America shops for the things we need." 2020: "Sears is where America used to shop for the life we used to lead. Sears is where America used to shop for the things we used to need." "Sears is going out of business! After 125+ years of serving America, Sears is selling out to the bare walls." Any day now, that's exactly what's Sears is going to tell America when it goes out of business. Its' troubles have gone back decades since when it decided to offer investment and banking services, as well as being agents for Allstate insurance company. That put a real dent on its resources. They also tried to offer real estate services through Coldwell Banker; what a mistake that was. Of course, we also had the rise of discount retail chains like Wal-Mart and Target. These chains offered quality merchandise at lower prices than Sears. Before you knew it, the flood gates began to open in many ways. How is it that a small 5 & 10 chain of stores based in Beltonville, Arkansas could become the world's largest retailer, with stores all over North America, Great Britain, Germany, and Latin America? We don't know, but their computerized distribution networks and their bullying tactics to get suppliers to sell their products at Wal-Mart's set of prices have been a contributing factor to Sears' downfall. One of the more radical issues that caused Sears' continuing downfall was their decision to stop mailing out their catalogs in 1993. They never adapted to online shopping, and when they did, it was too little, too late. I used to look forward to getting their catalogs 3 times a year, including their big Wish Book Catalog that was mailed out during the holidays. You could order everything out of that Wish Book, including Christmas toys, holiday decor and fashions. Of course, we also have to consider the growth of dollar stores like Dollar General, Dollar Tree, and Family Dollar, who offer all kinds of merchandise at low prices. They're located in small towns and cities across this continent, offering products, services and low prices that Sears can't even hope to offer. Okay, what else is causing Sears to fall flat on its face? Yes, you guessed it. Online shopping! I remember in 1999 when Amazon.com offered commercials with knock offs of "Sing Along With Mitch" to sell their products to customers around the country. Nowadays, they use singing boxes every holiday seasons to entice people to shop with them. The amount of merchandise offered by online behemoths like Amazon and EBay is staggering. Even companies like Wayfair, Marshalls, Fingerhut, and T.J. Maxx have also plugged into shoppers' consciousness. In fact, many of the dollar stores and discounters offer online shopping, same day pick up, and, in some cases, same day delivery. Years ago, Sears used to be on the main streets and back roads of cities and towns large and small. Now you have to be very clever to find one. Their locations are dull and dingy, as if they were falling apart. The fashions are all over the place, and the appliances are restricted to certain corners of the store, where you can't find them. You won't find any of their famous brands, that they used to advertise. I remember that they stopped building their own TVs once in favor of purchasing sets build by Panasonic of Japan. Sears used to advertise all over the place-on TV, radio and the newspapers. Their advertisements took up many pages in the newspapers, especially during the holidays. And you used to see them on TV and hear them on the radio during big events like the Super Bowl, the Olympics, and the Thanksgiving Day parades. Now you hardly hear of them in any way, shape, or form. Although Sears received a new financing to stave off liquidation, I think it's only temporary. Sears has closed hundreds of locations across the country, especially in many malls where they were once anchor stores. Many of these old stores are now unoccupied empty spaces. In short, it's a company on its last legs. Before you know it, they'll be announcing their final liquidation sales of all their stores. When Sears was founded 125+ years ago, it was a catalog company, selling everything you needed for your life. I already mentioned that I enjoyed receiving their Christmas Wish Books each year. They don't have much of an online presence, but maybe they can think about going back to their roots and focusing on catalog and online sales. It's probably their only hope now. Sears was once the Amazon of their time. They even owned a radio station in Chicago with the call letters WLS, which means World's Largest Store, where they got their slogan from. Now it's a shell of its former self. I don't think that there's any chance of regaining their momentum any time soon, if ever. Thanks to Amazon, the Sears of our time, or any of its online competitors, it's probably going to be gone before you or I know it. How mighty Sears once was. How much it has fallen. I guess from what I've seen and heard in the news, it's about to go over the precipice. What happened, Sears?
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Added on February 27, 2024 Last Updated on February 27, 2024 Tags: department store, shopping AuthorInvestor 2024Milton, MAAboutI'm an Irish American living in Boston's South Shore. I was diagnosed with autism when I was a child, yet my parents advocated for me to have special education. I've recently had a bout of spinal st.. more..Writing
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