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Business Insider recently published a video that features 10 companies that we lost in the last decade.
Those businesses that have ultimately been forced to close, have neglected to keep up with the demands of the market, with their competition, and the closure of those businesses is a symptom of changing purchasing methods and preferences.
The last standing Blockbuster in Oregon has declared that they have no plans to close, and while you may not be able to find some of those business venues in the United States any longer, such as Toys R Us, you can find it in other countries like Canada. That is after Toys R Us had been sold to holding company Fairfax Holdings.
Over the years we can expect the business landscape to evolve dramatically. For example, we see that more people are becoming comfortable with shopping online whether it be shopping for clothing, groceries, gadgets, or cars. Though we might see a trend away from brick-and-mortar however, that doesn't mean that those retail businesses have to ultimately face the same doom.
Fastest Growing Retail Segment
The used clothing market right now is the fastest growing category in retail clothing, which might be surprising considering the reports detailing the steady decline of brick-and-mortar shopping but second hand clothing stores have adjusted and evolved their approach, offering people a more convenient way to make a purchase in this market. Now, you can find a variety of places online to purchase lightly used items, it isn't only delegated to the eBay or Craigslist market like it might have been in the early years.
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Years ago, Blockbuster had the chance to purchase Netflix for $50 million, a company today estimated to be worth billions.
Many companies that we see today, Tesla, Netflix, Facebook etc, are they going to be there 10 years from now? 20? 100? It's impossible to know. Some might suggest that Tesla is here to stay forever, but others say it will be on its way out with others that are suited for the same fate. Those businesses that wish to still be around in decades to come are going to need to be successful in either using the government to make it happen, in using that force in carving out their protected market share, or they will need to voluntarily win the vote of the people and compete for their dollars that are being spent.
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It's estimated that more than 90 percent of startups are ultimately going to fail.
Considering the high rate of failure, that makes those who see continued success for decades, some more than 100+ years, a true rarity, it's something to be proud of, making it that long in business is nothing short of impressive.
Some of the oldest companies in the market today, some that have already been around for 100+ years, include the likes of Baker's Chocolate, Jim Beam, JP Morgan Chase, Colgate, Johnson & Johnson, The Kellogg Company, Coca-Cola, and The Hershey Company.
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The information posted above is for informational purposes only and should not be considered financial advice.
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not if you work there or like the products 🤣🤣
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It is sad to see Toys R Us go away, but, i went there a few years ago and the store had nothing i wanted. Nothing i remembered.
i cared so little for it, i didn't even know it closed.
The problem is that the toys became so commoditized that anyone could go online and get exactly the toy they wanted. Because each toy was identical to every other toy. No need to worry about not getting what you expected.
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My wife loved Charming Charlies and she will be devastated, but going to the website looks like they're "Making a comeback" in 39 days or something like that, maybe going online sales only?
Creative destruction is what Charles Koch calls it. If you're not developing the next big item that's going to destroy what you sell, then someone else is already doing it for you.
Blockbuster I wish I could say I miss it, but with Redbox and Netflix the only thing I miss is the nostalgia.
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you can still get a dose of that nostalgia😄.. just need to go to oregon for it lol
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