(Excerpt) Other department stores may try to win back recession-scarred consumers with glamorized décor, personalized service and accordion-like credit arrangements. But K mart Corp, knows that the way to the shopper's heart is still through the pocketbook. Most of the 1,750 stores around the country that show off the company's big red K are riding out the recession relatively well, and the discount chain may displace Sears, Roebuck and Co. as the U.S.'s leading retailer.K mart has prospered because of a no-frills policy that places the premium on value. In stores that usually have the ambience of a supermarket, customers can wander amid clothing, lawn chairs and stereos, rarely encountering a sales assistant. But the prices, as much as 15% below those at tonier stores, make up for the inconvenience.
Read the full article here.
Some freaky foreshadowing on Kmart's future...
ReplyDeleteReally enjoyed that article! Thanks.
ReplyDeleteGlad you liked it!
ReplyDeleteAnd you're right, Steven, that's exactly what I was thinking.
Kind of ironic now given the situation. Reminds me of some of the archives that I've read of the now-defunct Greengate Mall in Greensburg, PA from around 1989. A vibrant mall that was near 100% occupancy at the time and talks of a renovation and anchor store were in the works. Forward three years later and JCPenney announces that they will leave the mall. 10 years after that, the mall goes out of business and is demolished shortly thereafter to be replaced by a Super Wal-Mart.
ReplyDeleteSome funny stories about my uncles wives and Kmarts
ReplyDeleteHis fiance died when they were 22...so he went to work at Kmart...met his former best friend and wife no 1 while working there....flash forward 10 yrs...wife No 1 walks out on Uncle with the best friend he met while working at Kmart...
1992: Meets second wife while cleaning local Kmart with his cleaning service...
he got two blue light specials huh?
btw...all my cousins met their husbands working at Kmarts...or through their sister who works as a buyer at kmart.
ReplyDelete