Advertisement
Global  

“News neutrality by unbiased coverage”
One News Page
> >

How e-commerce is killing a ‘white glove’ store full of fun gizmos and gadgets like Brookstone

Proactive Investors Thursday, 2 August 2018
We can all agree it’s sad that Brookstone Inc (NASDAQ:BKST), the shopping mall favorite chock-full of fun gizmos and gadgets you didn’t really need but couldn’t quite ignore, is another victim to hard driving e-commerce. The New Hampshire-based company, best known for massage chairs, quirky gadgets, and travel luggage, is shutting down its remaining 101 mall stores, located across the US, due to a slowdown in mall traffic and buyers shopping online. Brookstone, which is owned by Chinese conglomerate Sanpower, has a further 35 locations in US airports that it will continue to run and put up for sale. Lack of foot traffic at malls has plagued brick-and-mortar sellers. According to real estate research firm Reis Inc (NASDAQ:REIS) America's malls haven't been this empty in nearly six years. READ: Brookstone files for bankruptcy protection as it shuts 101 mall stores Circuit City, the big box electronics store that filed for bankruptcy in 2008 has been a big driver of the vacancies. Walgreens Boots Alliance Inc. (NASDAQ:WBA), Bon-Ton, Sears Holding's (NYSE:SHLD) Sears and Kmart, Best Buy Co Inc (NYSE:BBY), and Signet Jeweler's (NYSE:SIG) Kay and Jared have also pulled out of several malls. And that's not to mention the "Amazon Effect" in which e-commerce giant Amazon.com Inc (NASDAQ:AMZN) has decimated whole swaths of the consumer retail landscape. READ: Amazon likely to dash past Walmart in the apparel wars, says Morgan Stanly Here is a stat that tells the sad story: Online shopping is growing at around a 15% clip per quarter, which is much faster than purchases at brick-and-mortar stores. Mark Cohen, the director of retail studies at Columbia Business School, summed up the retail apocalypse threatening the existence of Brookstone and other mall favorites. "They're trapped in hundreds of these B and C malls, whose traffic has been in serial decline," Cohen told CNN Money. "Where they are in triple-A malls, they're faced with very high rent."   Brookstone is one of the few stores that actually boasted attentive salespeople. "Brookstone had a unique value proposition," Sean Maharaj, a director in the retail practice of consultancy firm AArete told CNN Money. "They had a sophisticated offering. It was more boutique-like and felt a little white glove." Contact Uttara Choudhury at uttara@proactiveinvestors.com Follow her on Twitter: @UttaraProactive
0
shares
ShareTweetSavePostSend
 
Credit: Wochit - Published < > Embed
News video: Full Trailer Released For

▶ Full Trailer Released For "Mr. Mercedes" Season 2 01:00

Comicbook.com reports that a full trailer has been released for "Mr. Mercedes" Season 2. Based on Stephen King stories, the series continues to air on the AT&T Audience Network. King's Bill Hodges trilogy consists of "Mr. Mercedes," "Finders Keepers," and "End of Watch." The series revolves around...

You Might Like


Tweets about this


Other recent news in Business

Microsoft co-founder PAUL ALLEN dies of cancer at age 65Crypto firm Coinbase is opening a Dublin office as 'Plan B' for BREXIT
Here comes MORGAN STANLEY earnings... (MS)Virgin AUSTRALIA will use Strata lounge in Auckland and build others after Air New Zealand deal ends

Recent related videos from verified sources

Walmart Warns Investors It Will 'Test A Lot And Fail A Lot'; Cuts Profit Forecast [Video]Walmart Warns Investors It Will 'Test A Lot And Fail A Lot'; Cuts Profit Forecast 00:48

Walmart's chief executive officer on Tuesday urged investors to rethink the company’s business. Touting its various tech investments to grow online sales at a time it is battling Amazon.com for..

Credit: Wochit Business - Published

Studio 54: How the elitist disco paradise was quietly progressive [Video]Studio 54: How the elitist disco paradise was quietly progressive 02:01

It was one of the hardest nightclubs in history to get into, but the iconic Manhattan club Studio 54 still maintained a sense of freedom and diversity on the inside in the 1970s. Documentary filmmaker..

Credit: Salon-Editorial - Published

Inja x None Decay - Highwater [Video]Inja x None Decay - Highwater 04:19

Buy/Stream here: https://Inja.lnk.to/BlankPagesyb Always seen with a smile on his face; Inja the poet, lyricist, storyteller and unparalleled master of ceremonies presents his debut album on..

Credit: Hospital Records - Published

Urbandawn - White Canvas [Video]Urbandawn - White Canvas 05:17

Buy or stream here: https://urbandawn.lnk.to/SleepingAwakeEPyb Straight outta’ Sao Paulo, the funkmeister and production paragon Urbandawn has delivered a D+B quartet that’s ready to drop jaws..

Credit: Hospital Records - Published

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2018 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  Contact us  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? Send us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest