Lesson Learned from K-Mart/Sears Closures

In 2004 K-Mart and Sears announced a merger, hopefully to strengthen both companies.  But the two combined losing corporations have created one GIANT losing deficit.

Last week they announced the closing of 100-120 stores.  Why?  Not enough sales made; not enough value presented; resulting in not enough stores open anymore.

Can you blame their predicament on a “slow” economy?  Maybe, but remember they weren’t  doing that well when the economy was “fast.”

This is a lesson some corporations seem to repeat every year.  Two wrongs merging don’t make it right.  It’s like a bickering couple who decide to have another child to strengthen their weak marriage.

Don’t find someone else who can’t do better than you can and join with them.

Your customers are savvy.  They are wise.  They are frugal when you can’t deliver the value they are looking for.  They haven’t bought into yours, so they won’t pay your price. It doesn’t matter how many times your ad runs on broadcast media, in mailers, on flyers or newspapers.  If they don’t see the value, they won’t shop your store.

You haven’t tapped into what people are buying.  You have been too busy trying to get them to buy your service/product based on YOUR opinion of it – not theirs.

Why do you think that the more you force people to hear what you are selling the more they will buy?  It won’t happen.

Change your strategy and it will change your results.  Find out what people want to buy and orient your product or service to their buying habits or desires.

Jim Mathis is an international professional speaker and author of the Best-selling Reinvention Made Easy: Change Your Strategy, Change Your Results. To receive his free monthly e-newsletter with articles like this send a SUBSCRIBE message to: subscribe@jimmathis.com.

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