The reign of king retail is over. Home video giant, Blockbuster, filed for bankruptcy and was bought by Dish Network for a mere $233 million this year. Unable to find a buyer, Borders liquidated all its 500+ stores in the US, and as of October 2011 Borders.com has been replaced by a redirect to the Barnes & Noble website, effectively shutting down entirely.
Customers shop for a reason: they have a problem or a need and the retailer should hope to provide a solution for that problem cheaper, faster, and easier. Tesco has somewhat figured that out in its South Korean market, given Koreans’ busy lifestyle and openness to internet-based shopping and home delivery.