Will Radio Shack survive 2015?
Along with a string of many other “national” retail chains, Radio Shack is also teetering – by entering the bankruptcy stage of their existence. Will we have another “for rent” spot on Washington St. soon?
“Spiraling toward irrelevance”
Here’s what “the media” wrote:
“The 94-year-old chain that started in the 1920s with a store in Boston traced the rise of electronics in the life of Americans—from transistor radios and typewriters to Bluetooth headphones and smartphones. It grew into a nationwide icon but began spiraling toward irrelevance as electronics moved to the Web and technology moved on.”
Bad timing? What was the real reason Radio Shack fizzled?
See I’m wondering what the actual reason(s) for Radio Shack’s troubles are:
- Poor management? Failure to “respond” to market demand?
- The advent of certain technologies? (tablets & smartphones)
- The disappearance of their core customers? (DIY, fixer-uppers, etc.)
In the end, it’s most likely “a combination of” those and more.
But they’re all related to some degree. I used to work for Radio Shack back in the 80′s. And the even though there were emerging technologies like computers with “GUI’s,” and mobile phones – A good chunk of their business came from people who liked building things, fixing their own problems. Wires, transistors, soldering guns (does anyone even have one of those anymore?), fuses, capacitors, antennas, and a whole lot of other stuff (stereo equipment and speakers were also big, along with remote control toys around Christmas).
And sure, there is a new emerging trend of “DIY” hackers out there who fashion circuit boards and make gadgety stuff – but they’re a very tiny minority of the available customer base – and they probably buy their stuff online (since Radio Shack abandoned most of that “hobby” stuff a long time ago.)
Many say that Radio Shack was “a day late and a dollar short” when it came to the market itself. Sure, they could have responded faster to the almost “all-in” mobile phone market – but that would have alienated their previous loyal customers even faster – so it may not have made a difference.
Perhaps Radio Shack was just one of those places that was meant to be a temporary phase in the evolution (devolution) of mankind.
Maybe if they don’t go 100% out of business – the next best idea would be to turn all their existing stores into “Prepper’s HQ” type outlets for the HUGE market of people getting ready for when SHTF? Batteries, solar, water purifiers, food rations, hunting gear, etc.
You never know… that could save the day for them (and some people!)
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