Remember Blockbuster? A chain of video rental stores in the USA.
I used to love going to Blockbuster in my local town of Denver on a Friday night!
It was an institution.
A place where we would ‘thumb’ through the latest releases…or not if the damn things have already been taken!!
As you’re thumbing through looking for the latest ‘Star Wars’ movie you can smell the popcorn, that delicious smell is making you hungry!
Let’s go even farther back…
Instead of DVD’s, remember video cassettes! Now you’re showing your age lol
Are you still getting that smell of popcorn, I bet you can even taste it! I’m starting to actually feel hungry
I loved the place, I even had a few ‘date nights’, heading down to Blockbuster to pick a movie. C’mon you did too…secretly!
This was a way of life….
Until the late 2000’s!
The Washington Post first reported the news…..
Blockbuster is to go bankrupt and start closing stores!
How could this of happened?
In 2004, at the company’s peak, city blocks and suburban strip malls nationwide were studded with 9,000 Blockbuster outlets, a onetime indelible fixture of the family movie night. But soon after, Netflix, Red-box and the cold march of digital progress eroded the customer base at each store..
In 1989, a Blockbuster store opened every 17 hours, The Post’s Samantha Schmidt reported last year. But in the late 2000s, it seemed that the stores were closing at that same pace.
Why had this store, like many others, suddenly fallen on hard times?
From 9000 stores to 1 in 10 years!
They FAILED to adjust to the economic climate. ‘If you aren’t changing and adapting, then you are falling behind’
They crossed their arms when others where going online!
People wanted FASTER, ON DEMAND services
Streaming was the NEW VIDEO STORE!
The store owners failed to grasp that the climate and demographic was changing, and changing FAST!
Instead they said “Online streaming will never take off!”.
They were made to EAT THEIR WORDS!
If your business still has ‘popcorn wafting in the wind’, then do something to ensure it stays there!
Whatever you do, don’t say “MY CUSTOMER BASE WILL LOOK AFTER ME!”, they will drop YOU like a hot potato my friend!
ALWAYS look to ACQUIRE New customers!
Don’t sit on your ASS, it will bite your ass when it all goes ‘belly up’.
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Don’t be the next Blockbuster!
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