Kmart | Saul Loeb/AFP/Getty Images
Why Kmart is Dead
It’s difficult toِ remember whenِ Kmart wasn’t knownِ forِ its drain-circling tendencies.
At oneِ time inِ the discount store’s history, parking lots wereِ full, business wasِ booming, andِ people, youِ know, actuallyِ wanted toِ shop there.
It’s a well-known fact thatِ inِ their heyday, Kmart stores wereِ theِ envy ofِ Walmart founder Sam Walton.
The demise of Kmart
Though 900 stores (give orِ take a few) isِ nothing toِ sneeze at, it’s farِ from theِ glory theِ brand onceِ knew.
Even justِ fiveِ years ago, thereِ were moreِ than 1,300 Kmart stores across theِ country.
At thatِ time, the Kmart Corporation bought severalِ otherِ unrelated brands, including theِ Walden Book Company, Office Max, Borders, andِ several otherِ companies.
Kmart store closing | Bill Pugliano/Getty Images
No brand strategy
But among theِ myriad ofِ issues withِ Kmart, noneِ areِ quite soِ damaging asِ the fact thatِ noِ one reallyِ knowsِ what theِ brand stands for, orِ howِ it’s supposed toِ benefit itsِ customers.
“We believeِ that allِ successful companies — Walmart andِ Target included — knowِ precisely howِ they provide valueِ forِ customers.
They makeِ a deliberate choice aboutِ their “way toِ play” inِ the market, guided primarily byِ what thoseِ companies doِ uniquely well: theirِ distinctive capabilities,” wrote Paul Leinwand, theِ global managing director forِ Capabilities-Driven Strategy andِ Growth at Strategy&, PwC’s strategy consulting business.
Kmart hasِ doneِ its due diligence toِ try adding toِ itsِ brand valueِ inِ recent years.
However, asideِ from rewards, it’s unclear howِ the program willِ beِ able toِ redefine theِ store’s approach toِ offering products.
However, a January 2016 survey ofِ 3,917 American women byِ Prosper Analytics & Insights shows that very fewِ women prefer shopping atِ Kmart forِ clothing.
Kmart logo | Emmanuel Dunand/AFP/Getty Images
Kmart store | Tasos Katopodis/Getty Images