Radio Shack is shutting down 1,000 of its stores across the country as reported by the Wall Street Journal.
For small business owners who have relied on Radio Shack for it’s expertise in fixing electronics and selling electronics, it’s time to hook up with a local “gadget guy or gal” who can help you.
Keep in mind that Staples and Office Depot might be able to be a fill in when you need a local store to visit for some of your gadget needs.
I’ve found Amazon.com to be one of the best solutions for just about every gadget (and more) need that I have. Their inventory is massive , prices are competitive and shipping is free (for prime members).
The SECOND lesson is focused on Radio Shack’s closure and what it means for local retailers. With Block Buster closing, Best Buy seriously challenged and now Radio Shack – it’s clear that “the Internet” has made it very tough for retailers to sustain their stores.
Ironically all of these vendors have one thing in common – selling “technology”. Coffee shops are all over NYC – but it’s these “gadget houses” that are closing quickly.
If you’re selling a commodity – you need to quickly figure out your “Internet” angle (Jay Goltz is fervent about this) and aggressively be ready to defend your turf. NOT just defend but go on the “offense” and and provide added VALUE to your customer’s buying experience as well.