Toys R US filed for Bankruptcy. It lost to E-Commerce. Good News or Bad News for you.

by Amit Patel 3 replies
How many of you in the Warrior Forum House are on E-Commerce? Well you have a good news.

E-Commerce is the fastest growing business in the world today. And this has brought down a giant toy store like Toys R US.

Toys R US filed for Bankruptcy. There were two reasons that came up most.

First, Because of a huge debt of 7.5 billion dollars they had acquired in 2005.

Second, the big reason cited was declining sales. Where did the sales go? The sales when to companies like Walmart and Amazon.

More than 35 other chains have filed for bankruptcy in this year (2017) alone. And it is not going to stop on that. And everyone is blaming e-commerce. This has emerged as the fastest growing business online. Above Bitcoins, above affiliate marketing, above stock markets or above any other business known to mankind today.

So it is good news for you if you have already started riding on the e-commerce wave. But it is bad news if you are trying to setup a traditional store like Toys R US even if you have a huge investment available to you.

(Site link deleted as promotional by Moderator)

Tell me what you think about this, will love to see some discussion on this topic.
#ecommerce sites, wholesaling & drop shipping #bad #bankruptcy #ecommerce #filed #good #lost #news #toys
Avatar of Unregistered
  • Profile picture of the author spearce000
    To quote Bob Dylan:

    ...you better start swimmin'
    Or you'll sink like a stone
    For the times they are a-changin'.
    Read the full lyrics here: https://www.azlyrics.com/lyrics/bobd...eachangin.html

    Toys R Us (and those other retailers) didn't start swimming and have now sunk.

    This growth is good for e-commerce entrepreneurs for now, but the good times won't last forever. Just as Toys R US drove lots of "mom and pop" toy stores out of business in the 1960's and 1970's so the big guys will consolidate their hold on e-commerce over time. As an internet entrepreneur, you've got to be constantly on the look out for the next market that you can move into and exploit (in a good way) and then move on before your customers do.
    {{ DiscussionBoard.errors[11207705].message }}
    • Profile picture of the author Amit Patel
      This is true. The more I study these businesses that fail. The more I realise that they need to change.

      The old way of doing business is gone. You have to constantly change and change to new way of doing business.

      So we have to think about our business and think what is changing around us and then be prepared for the change.
      Signature
      {{ DiscussionBoard.errors[11207707].message }}
      • Profile picture of the author Ron Lafuddy
        Originally Posted by Amit Patel View Post

        This is true. The more I study these businesses that fail. The more I realise that they need to change.

        The old way of doing business is gone. You have to constantly change and change to new way of doing business.

        So we have to think about our business and think what is changing around us and then be prepared for the change.
        Those of us who have shopped at Toys R Us or Kmart, Sears, J.C.Penney, know why they are failing. It's the "customer experience".

        Could be that the "old way" of doing business, was all about the customer. Their needs, wants, desires. The "old way" was all about customer first and customer service.

        Some where along the line, Toys R Us and others, forgot about the old way. Their "new way" may have boosted profits initially, but it's going to cost them dearly in the long run.

        The "old way" still works. There are mom and pop stores practicing it today. They are doing very well. In fact, they are growing, despite the competition from big box stores and online.

        They are proof that the "old way' IS the better way.

        Ron
        {{ DiscussionBoard.errors[11207926].message }}
Avatar of Unregistered

Trending Topics