Please note: This is not what a recession looks like. This is a change in the structure of the economy where consumers have better alternatives than retailers like K-mart, see, for example, Amazon and Ebay.
Recession or not, you could pay for your purchase with paper money in one of those 64 K-Marts. Try that with Amazon or e-bay. Sorry if I'm not cheering this "structural" change in the economy. Somewhere, Ken Rogoff is smiling...
A couple of blocks away from me an old derelict Kmart shell which had sat empty for 5 years has been knocked down and is going to be replaced by a Mariano's Supermarket, owned by the Roundy's corporation which is more of supermarket than Whole Foods but does the Fancy deli service. 3 of those new supermarkets have opened in the last 5 years in the Western Suburbs of Chicago and another 5 or 6 other outfits of different brands have sprung up too. one (Westchester) has a bar Needless to say the rubbishy old local Jewel has had a bit of a refit recently
Recession or not, you could pay for your purchase with paper money in one of those 64 K-Marts. Try that with Amazon or e-bay. Sorry if I'm not cheering this "structural" change in the economy. Somewhere, Ken Rogoff is smiling...
ReplyDeleteA couple of blocks away from me an old derelict Kmart shell which had sat empty for 5 years has been knocked down and is going to be replaced by a Mariano's Supermarket, owned by the Roundy's corporation which is more of supermarket than Whole Foods but does the Fancy deli service. 3 of those new supermarkets have opened in the last 5 years in the Western Suburbs of Chicago and another 5 or 6 other outfits of different brands have sprung up too. one (Westchester) has a bar
ReplyDeleteNeedless to say the rubbishy old local Jewel has had a bit of a refit recently