However, the main news that continues to catch media attention (as well as my own) is Sears Holdings.
I have a love/hate relationship with Sears Holdings and after hearing the following news just makes me even more frustrated with the company. After having a disappointing holiday season, Sears' losses are so bad that their way to make up for it its to simply 'Close more stores' again. This will only work for so long. I've read a lot of web articles and it many professionals are thinking that 2016 may be the last year for the company. When referring to liquidation of remainder of the company, one expert said "It's not a matter of if, but when."
Obviously, we were all expecting this. I personally however was hoping to see Kmart and Sears be successful again. I also was hoping that they would try to improve their stores' image, but closing EVEN MORE stores does not help your image. I understand that store closures sometimes have to happen, even Walmart had too. Clearly all hopes of a revival for Sears Holdings have diminished with this news.
I would also like to take this moment to explain why I like and what I dislike about Sears Holdings. (Kmart in particular)
What I Like:
- Shop Your Way Rewards
- This program that Sears and Kmart use as a rewards program is a fantastic one. You earn points for everything you buy online or at either store as well as their partners for the program.
- Surprise points allow for surprise savings. In addition to having $11 worth in points, I was also able to save $6 the other day on one of my purchases because I had these surprise points. I ended up saving $17.
- contests that are available for all SYW members to enter for various prizes
- Little Caesars/ Nathan's Famous
- You also can earn SYW points through these restaurants if they are located inside a Kmart location.
What I Dislike:
- Lack of clearance for some product lines. One such product is LEGO. I visited my local Kmart today after having gone to the dentist. They were actively stocking the shelves in the toy department and because they aren't doing clearance for LEGO now, they are running out of space for any new product. Even the employees were starting to worry about this. There's a reason why stores put stuff on clearance!
(I was nice and helped them out by making some room for them. Hey employees, when a customer can find room you can't there's a problem. Also, you really shouldn't put the same set in two different spaces. However, I can only make so much room. They are reaching capacity and they didn't even get the newer set I wanted in!)
- Easing Off of Electronics
- Kmart has dropped electronics all together in some stores, while some stores have half of what they use to. Areas eliminated were made room for expanded selection for appliances. Which itself is not a bad idea, the problem is how Kmart handled adding an appliance department for most stores. Yet some locations still have a full electronics department and have a few random appliances nearby!
- Closing Cafe and their Creepy Condition
- If something isn't making a profit then its understandable that it closes. Kmart, however, in some cases may take a tacky route and leave the old space of cafes in the dark while still expecting customers to make their way to restrooms in the darkened area. Kind of creepy. Why not make this area appliances?
- At least some stores have the sense to turn the old area into additional floor space for store.
- REIT Reality
- I already expressed my opinion on this topic before. You can read it here.
Although it's likely not to change anything, if you would like to try to change this trend please help support the 'Stop Closing Kmart Stores' petition. There is also a Facebook page for the petition as well.
Sorry to go on a rant about this, but I have to vent somewhere!
With the current state of the company, I agree that it's looking like "It's not a matter of if, but when". The "experts" have been saying that every year for the last 6-7 years will be Sears Holding's last, so I would take those predictions with a grain of salt, but closing more stores will definitely speed up the process. I do feel certain that 2016 will be the last year for Super Kmart, as one of the last 6 Super Kmarts (I think that's all that remain) has just announced its closure after Meijer bought the building, and the future of the others are looking shaky, and Meijer seems to be interested in them. One of my biggest issues with Kmart is how their selection of groceries is nothing compared to what standard sized Targets and Walmarts carry. Adding a wider selection of Groceries is a big thing now, and what does Kmart do? Close/de-super the supercenters and not expand grocery in standard stores (and it looks like K-Fresh has died as well). Although in the last year or so Kmart has made their grocery departments more visually appealing and enticing in some stores, it's still not enough. Same goes for electronics - Everyone else is expanding these departments as Kmart shrinks it. Even if Electronics isn't Kmart's strong point, they should still keep an organized electronics selection with all of the basics of that department, complimented by a decent and presentable selection of Appliances and mattresses, something Walmart and Target don't sell, and could act as a draw into the store. Kmart should let electronics and appliances compliment each other, not make that area of the store look like a mismatched mess.
ReplyDeleteI like SYW as well. I know a lot of people think it's dumb, and they make fun of Kmart for having a rewards program to entice shoppers to come into their stores because "Walmart can attract shoppers without a rewards program". My account eventually deactivated in the time after the Palm Bay Kmart closed and my trips to Kmart grew few and far between, but after my trip to the Daytona store, my account reactivated and I've been getting e-mails about surprise points to use at Kmart almost every morning (not like I can take advantage of them anymore, but they do offer some good deals). I just feel that in the last year or so, Kmart has been trying to remove the perception that SYW isn't something specific to Kmart and Sears, and how they are now "Shop Your Way Partners". I'm fearing the higher powers are trying to make SYW more like the Plenti program (which is used by a variety of unrelated stores) so they can sell it off to someone else when Kmart/Sears cease to exist, or even before that happens.
Even though Kmart isn't in my immediate area anymore, I'll still try to support them all I can when I happen to be near one, as much I as don't like many of the decisions their higher ups make. Kmart still has potential, but with their current corporate leadership and their incessant desire to keep closing more stores, the longer this lasts, the harder it will be to turn the company around if someone even found the desire to do so. As slim as that is, it could still happen. At least I can hope anyway.
Hopefully some of this makes sense, and sorry to go off on a rant about this myself.
I realize the experts have said "This year will be the last," but it really sounds like Sears Holdings may drop the hammer on lots of locations this year. Eddie himself said he wants to speed up closing stores. I just hope this won't be the final nail in the coffin.
ReplyDeleteThe selection of electronics that my local store sells does cover the basics. The only things I see missing stores are video games, cameras and related accessories. I do agree about having a better visual appeal to their set up. Olean's set up is better than some other stores I visited that I have not yet uploaded to Flickr.
I've picked up Shop Your Way being branded separately. Not only does the Moneyhub mention it, but Kmart shopping bags also too now say 'Kmart: A Shop Your Way Partner'. It also does seem they may try to spin that off in the future if needed.
I do agree Kmart has a slim chance of revival and I try to be optimistic about it. I too try to support the chain as I do still have my local store. Even though my back up store in Wellsville is better.
Makes sense. No need to apologize; I was kind of wanting to discuss this!