wheel - 3:25 pm on Sep 7, 2011 (gmt 0)
But now, what do they stand for? Low prices? Superior Service? Latest trends? Biggest selection?
Companies lose their focus. Some of that's the walmart impact I think.
There's a car parts company in the country where I live, an absolute icon. People go to the store just to browse.
Now they're sending me grocery flyers. And getting into banking. And life insurance. Like, what? it's a retail store, why am I getting bank card offers from them?
As one friend says, keep diversifying until you find something to lose all your money at. Or as another friend says, only expand into areas that touch what you're doing now. And none of groceries, banking, or life insurance have anything to do with what they're doing now.
Personally I'd think they'd be better off taking their extra money and lowering prices or getting aggressive somewhere else. Dominate what they're doing and expand into what they're doing. But instead they're letting the walmarts of the world compete with them on autoparts (I shop both this store and walmart for auto stuff now), and not neccessarily winning, AND they're competing with grocery stores, banks, and insurance companies - sectors they're not familiar with and have no advantage in. They just had money, so they decided to enter into the market.