This article posted today paints a gloomy future for retail. I would plan your exit strategies now!
https://www.fiercewireless.com/operators/perfect-storm-changes-impact-wireless-retail-moore
17 replies (most recent on top)
100% agree
Yeah. Verizon will always have a few stores just for funs. But if you think even half of the stores they have today will be around in 10 years, I have some oceanfront property in Arizona to sell you...
Corporate retail isn't going anywhere.
I think it intentional. The change in commissions and knowing it will demotivate is by design. Easier to justify a store closure when it underperforms.
The morale in our store is appalling especially after we got our goals for 2021. Which is weighed heavily by the ris survey, were if anything under a 9 is weighted heavier than(its not going away)getting a 10 the paltry commission being controlled by the generalcustomerbase which hasto 80 percent some sought of service that we usuallycannotdo especiallywith only2 reps per shift,this with 3rd party customerservice sendingthem to corporate stores ( on too many issues to put here) on issues we can't resolve (majority done at a reseller) and constant phone contentrequests on demand with no appointments. . Also, the new to upgrade ratio effecting team commission is creating a store environment either showing our needy customers how to do an upgrade online or thru the my Verizon app.So with this scenario why would a corporate store rep do a upgrade unless the phone is broken. Yes never. This with the new mutant strain in the back of the employee mind while helping customers who disregard most safety protocol s and signs(,except for mask wearing) And Sms not at the door anymore ( any excuse not to do it) The stress levels are thru the roof every one walking on eggshells because of the anti employee survey. It's a disgrace what Verizon Corp retail is blind to the store employees while they still sit at home.
One thing is for sure : Changing the commission structure and pay plan in the corporate stores had a negative impact on sales...mind you company stores only account for 20% of all retail locations. Crazy to think Verizon would be ok with a small change that brought such a huge negative impact. So let’s review : Verizon changes commission plan and sales drastically drop. Verizon focuses on RIS and the customer experience but since the new pay plan RIS has actually gone down. You can’t make this stuff up! 2.0 One Team = Failure ...the results don’t lie !
No, we are basically saying we can outsource the making and serving of In And Out Burgers if we teach others how to do it and provide them with the ingredients. When then leave leasing, employment, benefits and all that other personnel stuff to the place we outsourced it to so we can focus on our core product and make it better while reducing operating costs.
McDonald's already does this. It is called...wait for it: A FRANCHISE!
Indirect maxis will always think they are taking over. However handing over a massive company to indirect retailers in any massive form and especially in the current state of the company as a whole would destroy just about everything. You're basically saying "We can replace all the In and Out burgers with Mc Donald's and the people and profits will be fine"
It is true retail won't fully go away ever or at least for a very long time. However Verizon has an infrastructure in place that cost them much less than running their own corporate stores. It's called indirect. The model is and this is not speculation it's happening has happened and will continue to happen on the grand scale. do you know how much money it costs to operate a corporate retail store. The cost of the facility, insurance for inventory and building, liability insurance, health insurance for employees, security systems, inventory sitting on the shelf, the amount of support employees required. Sadly if you look at what T-Mobile has done over the years Verizon has almost copied... Of course a few years behind. Smaller footprint stores operated by third-party companies.
Duh. Retail will never completely die. Consumers shop differently now and “ malls “ took the brunt of that change. Most people are into one stop shopping where Walmart and Target benefit from that. Those stores had a vision and future proofed their business’s very early on. Malls sat back and watched as things went down hill for over two decades. It wasn’t until things hit rock bottom that malls started to become mixed use buildings and most of that is in its infancy. Verizon has an advantage of being able to easily adapt to how people shop. Yes they will always have a certain percentage of full service retail stores but those will be outnumbered by Verizon Express stores in the next several years. You can easily see that coming. One thing interesting to note : Warren Buffet just invested a ton of money into this company.
Walmart near the Olathe, Kansas store is hiring. PT32 evening and overnight available.
Welcome!
Walmart could always use another clerk FUD packer.
FUD straight FUD
Much less expensive and less liability to migrate more stores to indirect.
What's make you say tomorrow will be far less?
Get out now
Well in 2015, Verizon had 2,330 corporate stores. Today they only have 1,600. Tomorrow, they will have far fewer.