Word: retailing
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Dates: during 2000-2009
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Circuit City became complacent - a fatal mistake in the fiercely competitive and fast-evolving retail-electronics industry. The problems began a decade ago, when Circuit City failed to secure prime real estate - its out-of-the-way locations were often just inconvenient enough to tempt customers to head to other retailers, like Wal-Mart. Then Circuit City stopped selling appliances. It didn't move as aggressively into gaming as it should have. And it missed out on big in-store promotions with thriving companies like Apple Computer. That created an opening for Best Buy, now the top electronics chain...
...retail rock star on its way to Harajuku. In the Japanese capital's frenetic neighborhood, where young Tokyoites troll the shops of local and global brands for hip deals, fans are already worked into a frenzy. H&M's second store in Japan - nestled in a glass building with a façade worthy of a SoHo gallery and branded with the signature red "H&M" - uses monochromatic tones and floor-to-ceiling windows to make the Swedish giant's bright-colored clothing stand out. But there's still one thing missing: lines of eager Japanese consumers winding around...
Chernova certainly isn't alone. Spooked by the biggest economic crisis in decades, Americans are making fewer trips to supermarkets, and many are leaving comparatively upscale grocers like Albertsons and Whole Foods in search of lower prices. According to a survey conducted last spring by TNS Retail Forward, a market-research and consulting firm based in Columbus, Ohio, 20% of respondents said they had changed which stores they go to for groceries and other household items, primarily because of the economic climate...
...private labels don't look noticeably cheaper. Consider the sleek, dark 16.9-oz. bottle of Ariel Extra-Virgin Olive Oil for $4.29. (A 17-oz. bottle of Bertolli's extra-virgin costs $9.69.) "You wouldn't be embarrassed to have that on your counter," says Bill Bishop, a retail consultant...
...Goldman report suggests that over the next year, "lagging" sectors of the economy - like construction, manufacturing, financial services and retail - are likely to incur many of the coming losses. According to the Bureau of Labor Statistics, some of these sectors already have seen deep cuts of late. Reich says all industries that rely on discretionary spending are at risk, while regions where at-risk industries once thrived could be battered. Dwindling housing and construction markets could cripple the Sun Belt; hospitality-heavy regions like Florida could suffer from a lack of tourist spending; and auto-manufacturing states like Michigan should...