Friday, August 9, 2024
Why are 99cents stores closing? Walgreen, Walmart, and 711?
Looking forward to the future of business
Whats causing this?
1. Post pandemic blues;
2. Decreased purchasing power of consumers due to inflation?
3. High shoplifting losses vs very thin margins;
4. What Amazon has wrought?
5. Higher minimum wages legislation
We used to own a retail establishment. We could not stand competition with a Sy owned retail store.
There are many players now: operating in high rent environment, tight competition, and reduced purchasing power too of consumers.
Are there other things that owners, business managers can do to avert closure....
Are the politicians who increased the cost responsible? What is better - higher wages or no wages?
Is this limited to California only or Dems run state
Who are the players now?
1. Family mart,
2. Uncle John
3. Dali
4. Save more
5. .Alfa Mart
6. 7 -11
Labels:
closure,
competition,
cost structure,
high,
job,
losses,
retail
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