Advantage Kmart Pharmacy : Learning From The Failure of kmart

Kmart pharmacy - Kmart pioneered by Harry Cunningham is the rival of the main Wal Mart in America. Growing up has 2.114 stores with 250,000 employees. However on 22 January 2002, the management of Kmart to announce the harsh reality that the company to which they lead are on the verge of bankruptcy. Accompanying this announcement,

Kmart will close 284 store and lay off approximately 22,000 employees. To emerge from bankruptcy, Kmart requires a re-financing of around 2 billion dollars. The interesting question is how the company amounted to Kmart can experience bankruptcy and what lessons can we take?

( Read More : Best prescription weight loss pills / prescription diet pills that work )

kmart pharmacy

In January 1997, I had a great experience while shopping at the Kmart located not far from Disneyland in Anahaim. The most striking thing from the store Kmart I go to is poor service. To buy the products that are in the showcase, I was very difficult to find staff who can help. When one of the staff I found (an elderly woman), He can not give help at all. And give answers to a very simple " Sorry, I couldn't find the key!". ".

Different with the above experience when I visited the TARGET store in Costamesa. When I asked the hour hand, and the coincidence of the products referred to are not in there, pramuniaganya (a young woman), kindly offered to contact the TARGET store that might still have stock of goods in question.

And believe it or not, he managed to give the name of the store plus a map to the stores that still have stock of the watch. The current TARGET CVS Pharmacy accompany Wal Mart taking the title as the retail network is successful in America.

Read more ; Walgreens Launches Chat The Pharmacy To Access 24/7 Online

kmart pharmacy

From two such experiences I came to the conclusion, that one of the main traits of retailers who are "dying" is a poor service to customers. If we have one shop looks deserted, it is difficult to find employees who can help, if there is any; their quality is low and often give answers that are as painful as "I don't know, sorry, find your own!", display cluttered, dust covered gondola, the prices are not up dated, the shelves empty lots, cashline only open 10%-20% in peak hours, and physical stores are not well maintained, then beware, because may be it is a signal of the beginning of bankruptcy.

What I say is personal experience. Other opinions related to the causes of the bankruptcy of Kmart is as follows ( :

1. The system of purchasing, logistics and distribution are not efficient, so Kmart is not able to compete in terms of price with the competitors.

2. Kmart does not have a Unique Selling Proposition (USP) or special factors that can differentiate with the competitors so that it becomes an attraction for the market. For example Wal Mart offers the price factor as a USP, Nordstorm offers and Home Depot offer a place for various equipment and supplies home care. While Kmart? it is difficult to answer.

3. A mistake in choosing the executive who occupied the key positions in the company. For example, the executive who held the position of CFO, have alternated as many as 4 people in a period of a few several years.

4. Problem in the operational stores due to the weak operational systems as well as the quality and motivation of human resources at the level of the store.

Share this