Radio Shack is closing many outlets across North America. A February 1991 sales flyer listed items that were “must-haves,” including: calculator, weather radio, alarm clock, pager telephone, answering machine, stereo headphones, video camera, tape recorder, camera, mobile cellular phone, global watch and computer. Who would have thought that all of these devices would one day be given to you with a telephone subscription?
Data connection? BANG… Instant information!
Radio Shack was known as the most advanced retailer for everyday consumers to purchase state-of-the-art electronic equipment for decades. Now it has been replaced by one device that fits in your pocket.
Unfortunately, RS has not been able to keep up with the market that consumers demand. They got “out-progressed” by better, easier (and sometimes more expensive) service. Traditional businesses can’t compete with non-traditional services that meet demands better or more conveniently.
I heard Clark Howard say several years ago that someone will always find a cheaper way to do whatever you deliver or produce.
What you have to find a way to charge people for the experience of doing business with you.