Sears Canada: RIP
In what was surely the least surprising story of the year, this retail giant finally gave up the ghost.
In operation since 1952, Sears Canada counted 239 stores all across the country. Its legendary mail-order catalogue was the delight of countless children. In June 2017, the company filed for protection under the Bankruptcy Act and observers closely scrutinized Sears’ every move. But in the end, Sears went the way of Eaton.
The Fail :
Sears was done in by the problems it had adapting to the times─ its clientele was shrinking, its product line was depleted and outmoded and the company was unable to compete with transactional websites. Having failed to adopt the shift to e-commerce, Sears proved to be incapable of creating a distinctive concept and of mustering the resources needed to keep pace with a constantly evolving retail environment.
The Moral :
Sears lacked the necessary capacity and willingness to innovate, and it had never really invested in its development. Reputation alone isn’t enough, a brand must always remain attractive. Sears had become weak, outmoded and dull.
Even given today’s hostile and highly-competitive market or the rise of online shopping, the downfall of Sears points to its inability to maintain distinct positioning and to bring in competent people to make it work.
Source image : REUTERS,Mark Blinch