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Micky Gramlin
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Micky Gramlin   My Press Releases

Buyer Beware!

Published on 8/22/2017
For additional information  Click Here

 

After 60 years closing

 

With the Holiday season fast approaching, gift cards have become very popular in the last few years with shoppers to give instead of cash. I like to give them too, my sons love to get them. But buyer beware this year.

In May, in one of my Press Releases, I wrote about Sears, Macy’s and Radio Shack and their store closings. I believe there were 23 retailers that were affected then and I predicted that there would be more.

We’re now into the 3rd business quarter of 2017 and so far “more than 300 retailers have filed for Chapter 11 bankruptcy”.

We are finding out that not only has most small business not adapted to the changing times, big business has ignored the trends too. All 300 of these retailers have not been able to compete with online brands, such as Amazon.

Radio show host, Clark at clark.com  explains that traditional retailers are closing stores because they did not give shoppers what they wanted in terms of things like price, fashion and selection.”

I have to wonder how many retailers are staying mum until after the shopping season to announce bankruptcy or closings for their companies?

 

BUYER BEWARE

Here are a few retailers that have filed for Chapter 11 and how many

stores they are closing

 

You can get a full list

clark.com

 

"Gymboree -

350

 

Ascena Retail Group -

268

 

Bebe Stores -

Closing all 180

 

Rue21 - 400

 

H and H Gregg

After 60 years all 220

 

The Limited -

After 50 years all 250

 

Wet Seal -

All 171 stores"

 

Small business owners please take note,“A recent study found that 74 percent of small business websites have no e commerce element to allow customers to make purchases online”.

 

Francis Cassady, a contributor here at IBO, suggests "researching e commerce and how to market it. What kind of products to offer."

Coming up with a good solid plan can make the difference of success or failure in any online business.

I will add, reaearch your various payment processors for payment options. Some, like Paypal, you are put in a pool with others similar to what you are selling ... this has  good points and  bad.

On a Merchants account you will stand on your own. I recommend having two payment processors. If you have trouble with one, you can still open for business because of the other.

 

Thank you for stopping by!

Micky Gramlin

 

Sources

small biz trends

clark.com

Picture Source

clark.com

 

ICANetwork

 

 

 

 

Member Note: To comment on this PR, simply click reply on the owners main post below.
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