Thread: Economy - Stores Closing

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I know that the economy is bad, but than I think that when was the last time we went to that place. Well, it's been 4 years ago, and if everyone is thinking the same thing, than the store or restaurant is going to close it's door. It can't sustain the business.

I think besides the gas going higher, I personally believe that the Internet is helping to hurting the economy. And you go why? Well, Circuit City closed it's doors, but they are now online. They got rid of the stores, and got rid of tons of people, and now I don't know how big the company is (It's probably not that many), but they are online. All those jobs are gone, and they are online selling stuff with a lot less people. The same goes for Montgomery Wards, and Service Merchandise. Those were gone awhile, but it's the same thing.

Ebay I believe is also helping hurt the economy. If I don't find merchandise at the store, I look at ebay. Ebay is usually one person with an account, and giving them money whereas a store is full of tons and tons of people. You might not see them during the day, but there are tons of workers stocking that stuff at night. You can say ebay, and just online stores. The Internet has become a store haven. I betch you a lot buy from Amazon. Well, if you buy from Amazon, what happens to physical stores who have tons more people working than an online retailer? Isn't that the point of an online retailer? (to reduce costs)

Another thing is outsourcing. It's cheaper to make our stuff elsewhere, and than what happens? Well, we lose jobs over here, and than people can't buy a lot of stuff over here because they don't have jobs, or they have low paying jobs. Than the company that outsourced goes out of business.

Lastly, competition, and cycles. At one time, there was a store in the US called Silo, there were stores also called Courtesy, Venture, Omni, Track Auto, Builder's Square, Pharmorx, Comp USA (which is coming back), Montgomery Wards (even though online), Service Merchandise (online), and so on. So, what's the point? These were stoers gone before the economy thing happened. Well, there are new corporate stores that came into the area like more Targets, Meijer, CVS Pharmacy, Menards, Home Depot, Fry's, Auto Zone, Lowe's, Jo-Anne Fabrics, and so on. They replaced the stores we lost awhile ago. Competition is key, and some businesses just can't compete because of one or another reasons.

I'm not saying that I don't shop ebay, or shop online stuff, but to me I believe that stuff is hurting the economy. For Halloween stuff, if I buy all my Halloween cutouts at buycostumes.com, than I don't have a reason to go to Party City, Factory Card Outlet, Card and Party Warehouse, another party place (I don't know the name of), Metro, a Jewel, and Let's Celebrate.

For competition again, you know how many food places I have been to this year? (That's a ton of places competing for my business.)
Boston Market, Taco Bell, Wendy's, Long John Silvers, Olive Garden, Red Lobster, Gino's East, Edwardo's, Connie's, Plush Pup, Chinese Restaurant, IHOP, Subway, Burger King, Lou Malanatti's, Ponderosa, Old Country Buffet, Fuddrucker's, Dairy Queen, Uno's, Garibaldi's, Springdale, Mcdonald's, Lone Star Steakhouse, Arbys, Dunkin Donuts, 2 Hot Dog Places, Avalon Restaurant, Russell's, and Jay's Beef. I can't think of anymore, but that's a lot of places that are competing with each other for where I'm going to eat. All that food is great stuff except maybe 2 places, but still!! I hate Culvers!!!!!!!!!

And for Fast Food being terrible, well Olive Garden, the pizza places (it depends on how much you are eating) Red Lobster, Lone Star Steakhouse are usually serving you more than 1200 calories per meal, so yeah unless you get salads. That's not including desserts, or appetizers which are full of calories. Ice cream, cakes, and shakes are loaded with a lot of calories!

You make some good points about the economy and the internet.

I have an online web site & I can tell you that it kills the stores but people like the convienence of shopping at home & not having to run all over, especially with all the hectic schedules everyone has these days. Plus you can comparison shop easily.

Times have not changed in a good way for the retail market. I have a route so we are in stores in the field a lot......business is just dead & everybody is complaining, lots of our accts. have closed down. Its hard to see what it all has become & I hope it turns around as they say it will. Still sometimes I feel like they don't take into consideration the amount of people out of work, that then found themselves in foreclosure & lost their houses, the amount of people that can't find a job.

How is the economy gonna be turned around when so many businesses, big & small have gone under, who is gonna employee these folks that lost their jobs & how long will it take these very folks to get back on their feet. They were gonna help everybody out with their mortgages & they just invested in more banks. SO all those people who could have stayed in their houses with just a simple re-finance so they would be able to make the payments are all now in apartments or rental houses. Plus their credit has gotten shot so how do they get back on their feet.

I agree with a lot of your points regarding the Economy, But I have to say that the Internet is currently booming a new breed of employers, Specially here in Michigan. Everyone is looking for a way to save money and we simply don't have the same amounts of money we once had, so we are trying to stretch our dollars as far as we can. I worked in the Automotive industry for nearly 14 years, work as hard as anyone, which is why my back hurts in the morning. I was laid off from a plant closing, couldn't find a job that came close to the wages I use to make. I tried even for minimum wage jobs and still wouldn't get hired because of my past wages, So I was laid off for over a year and a half. I now work for an "Internet" company and I love it. We have just opened up a retail store as well, so that created more jobs.

I would not down play the Internet as a major cause, in fact I think it has done it's fair share to keep the economy a float. There are people doing some wonderful things online and providing for their families and other families. Besides we're only talking about a 5% commerce ratio online compared to offline commerce at 95% overall the commerce industry. I think stores like Walmart have more to do with running out mom and pop shops than anything. A lot of our current troubles is Debt. Everyone is in debt, when were in debt how can be purchase any new goodies, which eventually puts people out of jobs, foreclosures, and so on.

I believe Circuit Cities website was sold to another company. As far as Restaurants, out of all the businesses that start each year about 90% fail, about 85% of that are Restaurants, which usually don't fail because of lack of customers, but not being prepared to handle the demand. We are in a world of hurt right now, I feel the pain of those who are still unemployed and are facing hard times. It's scary, I just pray.

While I do a fair amount of shopping online, I do appreciate the chance to go to a bricks-and-mortar store for items like clothing. I understand that the economy is going through a very rough time now, and I hope for the best of fortune for all those affected. That includes me; my job was outsourced to India.