I spotted a not so surprising story by Kim Peterson on "Is it time to close Kmart?." Anyone perusing the anemic aisles of Kmart in the past 5 years or more must be astounded how a once number two retailer in the world could tumble.
In 1999 having read an article in Newsweek on Wal-Mart's challenge to Sears and Kmart, I penned a congratulatory letter to Sam Walton founder of Wal-Mart. This new upstart Wal-Mart, had used technology and nimbleness to breathe down the necks of these two perennial “Two big to fail” giants. How this occurred should be of paramount importance.
Today, we recognize Sears and Kmart’s problems as commoditization. A few aspects are noted here:
1. Speed and nimbleness.
2. Responsiveness to change and competition
3. Low entry competitors
4. Technology
5. Price
6. Speed
7. Innovation. Recognition that no advantage is unassailable.
8. That size is a detriment.
For more insights on how commoditization poses a threat to your organization contact us.
In 1999 having read an article in Newsweek on Wal-Mart's challenge to Sears and Kmart, I penned a congratulatory letter to Sam Walton founder of Wal-Mart. This new upstart Wal-Mart, had used technology and nimbleness to breathe down the necks of these two perennial “Two big to fail” giants. How this occurred should be of paramount importance.
Today, we recognize Sears and Kmart’s problems as commoditization. A few aspects are noted here:
1. Speed and nimbleness.
2. Responsiveness to change and competition
3. Low entry competitors
4. Technology
5. Price
6. Speed
7. Innovation. Recognition that no advantage is unassailable.
8. That size is a detriment.
For more insights on how commoditization poses a threat to your organization contact us.
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