I’m pretty sure you just described KMart.Last time I went to mines it seemed like a ghost town, like half the store was empty, no customers, had to hunt down employees, and most of the merchandise seemed outdated or off brand.
Sucks for the employees though
At least Circuit City had the dignity to have months of massive liquidation sales. Fry’s just stayed open for three years until they sold the majority of their merchandise at MSRP and then locked the door.
Fry's switched to a mostly consignment model a while back. tl;dr since then they've no longer purchased most of their inventory, as retailers usually do. Instead, they were only paying suppliers if and when products sold. https://www.ocregister.com/2019/10/07/frys-electronics-hanging-on-but-for-how-long/So are their stores still open? Selling stuff for cheap?
**EDIT** Stores just closed. I guess they are sending merch back to the companies?
Frys has been barely hanging on for a few years now. In the last couple of years they switched from a standard model of buying product and selling it, to instead only stocking merchandise via consignment. This would mean they were at the mercy of vendors, and if they thought a store wasn't going to sell product, or didn't trust them to pay for the product, then stores would have fewer items to stock. This also means that they have no merchandise to liquidate, it's all going back to whoever put it on Frys shelves. So stores that haven't had much of any stock, or that had a lot of cheap, off-brand looking things just weren't doing enough business to keep getting items.At least Circuit City had the dignity to have months of massive liquidation sales. Fry’s just stayed open for three years until they sold the majority of their merchandise at MSRP and then locked the door.
That’s correct, also they stopped carrying name brand TVs and audio equipment. Not a whole lot you’d want to buy if they could do a liquidation. Mine was mostly filled with as seen on tv products.Fry's switched to a mostly consignment model a while back. tl;dr since they they've no longer purchased most of their inventory, as retailer usually do. Instead, they were only paying suppliers if and when products sold. https://www.ocregister.com/2019/10/07/frys-electronics-hanging-on-but-for-how-long/
I'd take it that means there's not much to liquidate, since most of the product is just going to get sent back to suppliers.
K-Mart atleast still looked functional. This was much worse, like 50%+ of the store was literally just empty. And there were boxes everywhere. And this was like more than a year agoI’m pretty sure you just described KMart.
I don't think the switch to consignment happened until late 2019. They still weren't doing too great before that, but 2019 was really the year where it all just went south. The fact they held on as long as they did in 2020 is amazing.I got a 4TB Xbox drive from them in 2018. That couldn’t have been on consignment. Also wtf consignment? That’s like for old furniture and Knick knacks. How could they have possibly thought that would work.
Up until a few years ago the Frys by me was an excellent store. But they'd been noticeably going downhill and even though I work just a half mile away, I hadn't been in there for over a year.
Comp USA
Circuit City
Incredible Universe
Frys
Basically. Ya they just didn't keep up with the times and went the way of many others before them. Best buy made a killing in covid-19 2020.They're blaming COVID but other personal electronics retailers have made a killing during COVID. Demand for home office equipment, printers, ink, computers, etc have exploded with so many people working from home. Home entertainment has also exploded.
Exactly. If they weren't poorly managed, they would have to. Them blaming COVID for their demise is just inaccurateBasically. Ya they just didn't keep up with the times and went the way of many others before them. Best buy made a killing in covid-19 2020.
They say most of the inventory was on consignment so it will probably be returned. The rest of the scraps will be sold on some employee's ebay account.Wait, so they just closed up shop and thats it? No discounts no nothing. wow