Struggling Retailer

    Many companies that we see in Canada today are based out of the US. This can cause many problems for retailers, between shipping, costs and various standard control systems. One company that is current seeing a struggle in today's economy is Sears department stores. Today, there are a large variety of stores offering similar products as Sears. This allows for great competition in the market. Although Sears is known as a higher end department store, more and more people are finding themselves looking at purchasing at lower price ranges. With this, Sears will not be getting as great of sales due to the fact that consumers can go elsewhere for similar products at less cost. Having competition in relation to styles and prices puts Sears at a great risk.

Image from Google Images.

    Sears needs to reevaluate their company and find a way to change the image they carry. One way Sears could readjust their company is by targeting to a different target audience. Many people in today's society don't have a lot of extra money to spend, and if they do, they're likely going to a higher end store versus Sears. Sears needs to take this into consideration and either adjust their products to go down with cheaper products, or to reach up to these higher end clients. If they decide to reach up, it may be wise to limit the amount of articles they are selling in order to specialize and find a new niche. Another consideration for Sears should be the fact that people who grew up with the company, baby boomers, are also getting older and slowly are passing on. This leaves their target dwindling slowly. If they do not readjust their focus, there target market will be greatly decreased within the next decade.

     Although a company like Walmart sells different products, several people will look at the price aspect and purchase where they can easily afford at the time they are currently there. Sears needs to keep this price point in mind if it plans to become successful again in today's market. Sears is currently fighting against new, up and coming companies, and they need to change their target and strategy to fit this, before it causes them to go under.