Citing poor holiday sales, Sears Holding Corporation this week announced plans to shutter about 115 Sears and Kmart stores nationwide.Not wishing to pile on to an unfortunate situation, but we can’t help but wonder if we’re seeing a failure of brand here — or more specifically, the failure to keep two venerable brands updated and relevant.
After all, what’s Kmart? A discount store, certainly, but what differentiates it from the world’s largest discount seller? Walmart is not only the world’s largest retailer, they sell more TVs, groceries, toys, guns and diamonds than any other company in the world. What has Kmart done to compete with that? And if they can’t compete, how do they distinguish themselves?
And Sears, founded in 1886, is one of our oldest retailers. Their history is long, storied and honorable. But are they modern? Are they competitive? When was the last time you shopped at Sears?
Longevity is enviable, but it’s nothing without competitiveness and relevancy. Lacking those vital components, longevity can cease at any time.
The C4:
- Longevity requires a strong brand.
- A strong brand requires differentiation.
- Differentiation requires competitiveness.
- Competitiveness requires a desire for longevity.
