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250 words for each partPart 1 In 2018 the lists of store closing or downsizing seemed to be increasing every week. Many people were in shock and disbelief. The list for 2019 isn’t much better. Jus
250 words for each part
- In 2018 the lists of store closing or downsizing seemed to be increasing every week. Many people were in shock and disbelief. The list for 2019 isn’t much better. Just the other day there was a notice at Franklin Park Mall in Toledo announcing that The Disney Store was closing up shop. In today’s market, it is no surprise and I am shocked some of these retailers have been open as long as they have. If you look at the list on Yahoo Finance, they state “nearly 6,000 stores are closing in 2019” (Whiteman, 2019). That sounds like a huge number. Imagine all of the jobs that people will lose. But, if you take into account the way people are shopping, what they are buying and how often, it makes sense for these companies to close up shop and devote money and energy into more online sales, or, a more geographical location to help its stability. Payless Shoes was down the street from my home. I can’t say I have frequented there often. I may have stopped in on occasion. In “2017.they had more than 4,400 stores in over 30 countries and they filed for bankruptcy protection” (Whiteman, 2019). Now, in 2019, they are closing 2100 stores and going out of business. They were not able to compete with internet sales and other stores that could offer better prices. I do find it interesting that with all of the stores that are closing, most of them were anchors at the malls around America. When the malls started facing financial distress – because let’s face it- malls are expensive and, the parking – do not even get me started, so did the stores for less foot traffic. The old saying I can remember in a very deep baritone voice “BUILD IT AND THEY WILL COME!” is not the thought process in today’s society. Smaller is better. Internet presence is a must. Smaller square footage means you can really fit that niche and operate efficiently. Payless chose to downsize their company in 2017 but it was not enough to keep their doors open. Disney is downsizing and restructuring how they operate to create a “sweeping restructuring aimed at accelerating its global expansion during a period of upheaval for Hollywood” (Miller, 2018). It is no surprise the executives in charge are training their replacements and Disney has others in place to help with this transition. This will hopefully allow a better flow of revenue and less financial stress as well.Miller, D. &. (2018, March 14). Disney restructures its business as digital disruption shakes up the media industry. Retrieved from Los Angeles Times: https://www.latimes.com/business/hollywood/la-fi-ct-disney-restructuring-20180314-story.htmlWhiteman, D. (2019, April 24). These Chains Are Closing Nearly 6,000 Stores in 2019. Retrieved from Yahoo Finance: https://finance.yahoo.com/news/25-retailers-already-announced-close-132806255.html
- Part 2
- Spectrum launched mobile service in 2018. The service runs off the Verizon network and also on the Spectrum Hot Spots. In order to have this service you must be a Spectrum internet customer, if you do not remain a Spectrum internet customer you may still keep the phone with a $20 upcharge. They offer 2 service plans with no contracts, very simple to understand. Both plans include unlimited talk and text, the $45 plan has unlimited data, and the $14 plan has 1GB of data if you go over that you are charged another $14. If you see that you are going to be using more than that you can switch over to the unlimited plan at any time during your service month.
- When this product was first launched you could only set up service via telephone or website and you could not keep your old number. In the last year that has changed, you are now able to “port” keep you own phone number and with the growing number of subscribers it is now possible to bring your own device as long as they are able to be supported by Spectrum and unlocked from another company. Bring your own device (BYOD) is a big savings for customers who already own their phone, because you would only be paying for one of those plans plus tax. Another saving with this service is you are not being charged all of the government taxes and fees like you see on a cell phone bill with other companies. That is significant savings. The one drawback with BYOD is not all Spectrum stores are offering the mobile service, you may have to travel to keep you phone, for now.
- By launching this Spectrum has positioned themselves to be a one stop shop for all your home entertainment needs, especially since they are moving into streaming channels and not needing a cable box.
- Spectrum Mobile Website, https://www.spectrum.com/mobile.html