The above article is a great read on how an iconic American company lost it’s way.
Sears made many mistakes along the way. The lack of concern about the rise of Walmart, Best Buy, and Home Depot. The merger with a bankrupt KMart. The clear lack of concern for store maintenance and appearance. The biggest one was not really knowing its customers and prospective customers.
From the above article,Sears did a lot of things first that are now staples of retail. But, their customer base was not one that sought those conveniences. A clear lack of connection was Sears believing its customers would drive 25 miles to purchase an appliance if they had any other option.
Like many mature companies, Sears leadership valued returns more so than customer growth. Profitability in the near term placed greater importance than profitability in the long term. Sears needed to connect with new audiences to augment its base.
Sears was a great retailer that stood by its products. Sears was a fixture in the homes of many generations. The shame is many future generations may not experience the unique experience of shopping at a Sears.