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Toys ‘R’ Us Downfall: Poor Retail Experience to Blame?

March 15, 2018

Toys r us

As the never ending debate in banking around the importance of the branch in a digital age continues, another major retailer will be shutting its doors for good later this year.  Most would quickly jump to the conclusion that online shopping is to blame here, but as this recent CNN article, Amazon didn’t kill Toys ‘R’ Us. Here’s what did, points out–the store experience is the real culprit here.

Citing a retail consultant and the CEO of Toys ‘R’ Us, the article highlights the degrading conditions of the stores and lack of sales associates as key reasons the stores lost its appeal to consumers.  Furthermore, mounting debt accumulated by the retailer prevented it from making the necessary investments to turnaround these issues.

What sort of investments are you making to your branch network?  Perhaps you have plans to redesign some locations, implement a new sales training program, or purchase new lobby management technology, like appointment software or lobby tracking applications.  Whatever your plans are, I would consider the lessons Toys ‘R’ Us can teach us around the importance of the retail experience.

 

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