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Seems BHS could collapse after 88 years!

 
Ron BrindPremier Member - Click for more info
Ron Brind
Posts: 19052
Joined: 26th Oct 2003
Location: England
quotePosted at 07:10 on 25th April 2016

BHS (British Home Stores) one of the biggest and best names on the High Street is struggling and it's future is now in doubt.

Potentially 11,000 jobs at risk, another to follow in the footsteps of F W Woolworth maybe?

So who is to blame, maybe the internet is the killer, but what say you members?

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sk lawson
sk lawson
Posts: 4015
Joined: 7th Oct 2010
Location: USA
quotePosted at 10:13 on 25th April 2016

Having worked retail Ron, they set themselves up to fail...why because they think they have to have an continual high profit...if they don t get it ....they feel they have failed and must close shop.....what happens when you raise pricing to make up for lower profits....well, first thing is the quality goes out the door....people don't like the cheap stuff...it don't last....when it doesn't last...it's cost effective to the consumer. Innovative thinking has always supplied retail with better products for less money....that's what made places like "Toyota"...and computers and I-pads to begin with...was the innovation kept the product sellling. One other thing most stores do way beforehand in having financial problems is pulling products that don't readily sell right a way also...so if your looking for something, if you don' tbuy it real fast, it's not there when you have the money to buy it.  Having the money to buy goods takes an while the more it costs. I might also add when necessities of living in the world on the basic things are high...it don' tleave people with money to buy luxury items either...so again it stimulates less goods  on the market. These days they generally expect every year to make the profits they use to make in five years....thier expectations are to high at times, there stock cut down to the barest... and pricing inadequate for qualtiy at times...we still don't live in an "desposable" world like some would liek ti to be. Here's som of the things I've seen done by managers that I thought made fo rbad business...

(1)...we use to have "volunteers" come into the store I worked to decorate it for Christmas....then in cam eth enew manager and dispense with that silly ordeal...well, they use to attract an LOT of people coming in to the store back then...and for many they never left withouth buying things like candy bars, soda pops, panty hose...when there were no more volunteers....there were no more massive people coming in. Things these people use to do, wrap up empty boxes to set up for displays to look like Chirstmas presents...wrapped "Hoo-la-hoops" with trree strands of garland and attach clothing to it and hang them through the entryway of the store coming in.....we also back then took all our socks people had opened in bags....and sell each pair for next to nothing in an bin...you should of seen the people going for them back then. Everyone needed socks and besides your feet they could be made into craftsand mittens and what not else. They upped the price of the stockings, and stopped putting them in bags that get torn into and stopped sellling them....so now they don't sell as many socks either. People love an bargain.

(2)....another thing about Christmas....why they put the  decorated artifical trees in the back yard nine of the store when people might feel more Christmasey if they were passing them by coming into the store? What happened to the occasional "singers" in the store also....again often "volunteers" form achurch or private group.  The occasional cookie for free also. They work very hard these days keeping the people to not have an reason to be in the store...if they aren't in it to begin with...they won't be as motivated to buy anything. You can't tell me that people will buy the little stuff on an computer..... like they will having it before there noses.

(3) What kept the old stores running was often "soda bars" also...where you could pick up food for next to nothing. When our store had it's own cafe/resturant...most the kids worked part time nights came in from late school shifts to work..their first break was buying an dish of mashed potatoes. You get four kids buying an nightly meal fo mashed potatoes for $1...everyday...that's an expeniture of $120 an month in food. Don't seem like much but that's an sellling factor of yearly $1,440. Now most people have an dollar on them...when they don't 5 dollars. The so callled success of McDonald's perhaps?

Some of the things that add up to better business...and not taking away from it.  It's true things have dramatically changed these days...you almost have to have an more moneyed "mentor" to keep in business some days. And look at the things missing now that use to be sold in "Mom and Pop" type stores....hobby crafts for kids,,,cameras..novalties...junk jewerly ..... for the most part. But anyway...just an few things I've noticed through the years. Now you must buy diamonds starting  at 99 dollars instead...kids don'  thave that kind of money to spend...neither do most parents. It takes an real clever retail manager to know what his coustomers like and will buy for what prices these days also.

 

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Rod Burkey
Rod Burkey
Posts: 508
Joined: 2nd Sep 2008
Location: UK
quotePosted at 14:58 on 26th April 2016
I suppose BHS has not moved forward in the perception of the buying public. It has been a couple of years since I last visited BHS. It just seems to have gone off my radar. It's a shame. 
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Ron BrindPremier Member - Click for more info
Ron Brind
Posts: 19052
Joined: 26th Oct 2003
Location: England
quotePosted at 10:23 on 27th April 2016

Almost a case of you don't miss it until it's gone eh Rod?

I suppose we all just assume it and others like it will always be there, but clearly they have to keep up with the modern day 'lazy shopper' who might prefer to do it all online from the comfort of their armchair?

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