Eco/Geekonomics – Sears and Kmart stores to close

Not a happy holiday season apparently.

I had been hearing about trouble at Sears, but not the Kmart part of Sears Holdings.  There's a hefty amount of stores closing, about 100-120.  I'm sure the lousy economy is an obvious part of it – as is the move to online (and man, judging by the scene out here during shopping time, online is a good bet).

They're also not alone – Wal-Mart is hurting.  They just have presence, gobs of cash, and stranglehold on their side.

So why is this here, in our Sanctum Geektorum?  Because this is big news:

  • Those quick retail jobs people rely on for cash are going to be affected by lack of opportunity.
  • If there is more of a move online that may change opportunities – and bring some for you.  As I've noted many times I still think Wal-Mart is going to try and build an online presence.
  • Amazon is more likely to be further in the crosshairs after this because, well, e-commerce and such.  This is going to further negative attention on Amazon – though it may result in a can't-beat-em-join-em approach.
  • These closings could affect communities severely depending on where they are.  It may affecy yours.
  • It's a reminder many brands are not "sacred" in this economy.  Your name will not necessarily save you today.

Steven Savage