Source: Big-box retail in mid-life crisis, National Post, March 31, 2012
Best Buy is closing 50 big stores and opening 100 smaller stores.
Meaning: the era of big-box retail dominance is coming to an end. Here's why:
1. Boomers no longer have kids at home - don't need to stock up on food and packaged goods.
Their kids are marrying later and delaying having their own children.
Meaning: fewer are buying houses that need to be updated and furnished.
2. Shoppers are buying online.
Amazon.com is grabbing market share from Wal-Mart, Best Buy and Target.