Today we hear that Toys R Us is closing its stores in the UK. 3000 People lose their jobs. Toys R Us are one of a long list of retailers to go across a wide range of industries, giants and ‘household names’ disappear as we stare at our screens looking for the next bargain.
Why Shop Online
We know the answer to this really. Last night alone, I ordered two things online, one was flowers and chocolates for a friend, the other was windscreen wipers, they were almost half the price of the one I had bought from a well known retailer last week. It was easy, I didn’t have to go out and I could do it when I was free. Why would I pay £12 for something that I could buy for £7?
The Changing Face of Retail
A few short years ago I worked within the toy industry, providing content marketing. It was a small business and I soon found myself responsible for buying and ordering of stock as well as content writing, marketing etc etc. With a pedantic approach to the control and monitoring of stock and of course, cleverly written content and marketing materials, the company saw an impressive increase in sales and customers. Suppliers were very happy with the upturn in business.
Like many others, this magical, quirky toy store was pitching itself like David & Goliath against the mighty Amazon. Not only that, high rents and rates were the heavy price of having a retail presence. Fast forward a couple of years and this business is now online only and their business model has undergone drastic reconstruction to adapt to an ever changing market place.
So back to Toys R Us. It isn’t the case that we are no longer buying toys for children, is it? We all know that many children are now spending less time actually playing and more time in front of a screen but they still have toys surely? Where are we buying them from if not from toy shops?
Adapting to Change
What’s to blame? How have your shopping habits changed? When you search for something online, what’s the first place you go to? (That one is rhetorical, we know the answer).
Small Business Owners
If you are ‘David’ facing Goliath, all is not lost. Online is a presence you have a right to and with clever content marketing, you can earn your place alongside the giants. Let’s not forget, David actually won. Contact me for help, stones, and a great slingshot.