Read this and realized that this is the sad reality of today. If it's not eCommerce, it's this.
Sears is closing stores. Carson's is going out of business. But discount retailers are expanding and racking up sales.
http://www.chicagotribune.com/business/ct-biz-department-stores-discount-retail-20180727-story.html#
Kmart is viewed not so much as a discounter but as a store with Cheap Quality merchandise that's not sold for low prices. People want rock bottom prices if they're buying poor quality OR they want to feel like they're getting a "bargain" a la TJ Maxx and Burlington Stores.
That why coupons are so successful at Kohls, Macy's and as they found out the hard way, JC Penney. The coupon/% off price IS the real price. It's just feels like you got a deal.
"If discount retailers are racking up sales, why isn't Kmart flourishing"
Because clerks are available to take the money without a 20 minute sales pitch on points and credit cards. Because the stores are clean and updated inside and out. Because they have staff. Because they don't really go to malls anymore
If discount retailers are racking up sales, why isn't Kmart flourishing?
Trendier retailers like Target are selling tshirts that appear 30 years old. Not many appear on the clearance racks so they must be selling.
Those looking for cheap should look to Sears stock today. Latest price, $1.78. Note I used the word cheap, not bargain.
@yme while I won't post a picture, I'm in my 30's and have concert shirts from the mid 90's. Things I wore a lot back when I was in middle school and high school, and things I still wear around the house today. Fashion wise, these things don't really work, but as far as function, these shirts still perform as shirts (granted they are a bit tighter around the midsection) but that was exactly the point, who cares about quality when style is the killer of clothes.
That said, I do have a jacket that is somewhere between 40 and 50 years old, that I still wear and get compliments on that was my grandfathers. For that one style and quality really worked out well.
You are wearing clothes that are 20 years old. Can you post a link to a picture of you. I would love to see what you like,
Its quite a mix, we have become a nation of disposables. We treat products much differently than previous generations (I'm not talking 30 year olds) because ever since the baby boomers, things are just more likely to be replaced, thrown away working, or forgotten. We can buy a $20 blender for a party and throw it away after and not feel bad about it, because it was only $20, and it looks cheap but we only needed it for the day, and where would we store it, and how often will we use it when we have a ninja mini blender.
This almost applies to everything, personally I don't care about lifetime warranties on tools. Partially because who knows if the company will actually honor it, and honestly, I'd probably lose it before I ever broke it.
Clothes, they are typically out of fashion before they are worn out, I still have tshirts in good condition from 20 years ago.
Even electronics, are disposable where you can actually identify the lifespan of specific products, most people won't have a cell phone older than 3 years, and most people won't use a computer over 5 years old, and these were hundreds if not thousand dollar investments for most of us.
How does this affect Sears? Sears was a company that stood by their products, and had quality (even if you had to pay more) and it was a company that was going to be around "forever" so the lifetime warranty was worth it. That customer base hardly exists anymore, and we all know that they no longer have quality or customer service, so we are left with paying a premium for "less"
Other retailers have been more specialized in product (best buy, Kohls) or price (dollar general) or have a broader selection (Amazon)
This allows people more choice in what they can afford for the time they need to use a product.
As the other comment reflected there is also perception Kmart is cheap (quality wise), and I feel I would get the same products as a dollar general, but I would assume dollar general would be cheaper (cost wise)
Long gone are the days where the quote "If Sears doesn't have it, you don't want it" can work. Because it did work for years. Companies would kill to get their products in Sears because it reflected well on them, it was better than flying an american flag in your commercials!
The majority of Americans have seen stagnet wages for 15+ years. We're also sick of being sold crap that falls apart. Discounts are where we can justify the cost of something new.
Stock market owns america
No, people want what they believe is quality stuff at what they perceive to be a bargain. At least the middle class and above, people don't want flea market knockoff crap, nor do they want to pay full price in some dilapidated has-been department store. Note that the line between these is often perception.