Big Box Stores are In Trouble Unless They do This
Toys R Us declares bankruptcy
Toys R Us joins the ranks of retail stores that are struggling. They can't compete with the ease of Amazon's home delivery or their price point. I remember taking my kids to Toys R Us to browse the aisles. I also remember being there on my own bright and early on Black Friday so that I could snag the deeply discounted Barbie, Action Figures, board games, etc. Those days are gone (certainly for me because my children are grown). Why would a parent fight the mayhem when they can go online and get better deals on toys delivered straight to their house?
The key for big box stores is creating an experience! Everyone thought movie theaters were dead until they started selling alcohol, creating comfortable chairs, and upgrading the movie attending experience. Boutiques and specialty stores are still highly trafficked in tourist areas in particular because they deliver interesting and unique products in a comfortable environment.
Toys R Us can reinvent their experience if they get away from the warehouse approach and create a magical wonderland where parents will want to take their children and children will be begging to go.