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Yelm must diversify economy, now more urgent than ever –
Wal-Mart’s brick-and-mortar stores’ dominance diminishes

* Warren Buffett drops Wal-Mart as an investment.
* This signaled the death of retail as we know.
* With Wal-Marts in Lacey & Graham, is Yelm’s Wal-Mart soon threatened?
* Wal-Mart previously announced hundreds of store closures in 2016.
* Brick-and-mortar retailers struggle against e-commerce.
* Local e-commerce is an economic-engine sector Yelm does not yet recognize.
* This Blog has always highlighted our area’s e-commerce businesses.
* Yelm MUST diversify sales tax revenue, not be so dependent almost solely on Wal-Mart!

– “Warren Buffett just dropped Walmart and signaled the death of retail as we know it”
“Warren Buffett’s Berkshire Hathaway just sold off $900 million of Walmart stock, choosing to invest billions in airline stocks instead.”

“The sale, which leaves Buffett with nearly no shares in Walmart, comes as America’s largest traditional retailer has been rushing to catch up to Amazon and other online competitors. Amazon’s market value is now $356 billion, compared with Walmart’s $298 billion. Buffett last year acknowledged that traditional brick-and-mortar retailers were struggling in the face of competition from the e-commerce giant.”
Read more

– UPDATE: July 21, 2017
“They are capturing the fall of legacy retailers in real time. Is your store next?”
“Consider, for a minute, the stores that make up your retail past.

Payless ShoeSource. Kmart. Sears. Or malls you used to visit that didn’t survive the ensuing decades.

Dan Bell and Erik Pierson feel your pain. The two online video stars are chronicling, to a growing YouTube audience, the decline of stores nationwide,” by Debbie Cockrell, Tacoma News Tribune.
Read more

Posted by Steve on February 16, 2017 at 6:26 am | Permalink

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