Where We Buy: Retail Real Estate with James Cook The Rise and Fall of Retail Icons - Where We Buy #334
May 9, 2025
Gregg Katz, Director of Business Industry Solutions for Real Estate at ESRI and a nostalgic retail aficionado, shares his insights on defunct brands like Blockbuster and Planet Hollywood. He discusses the critical lessons from their rises and falls, emphasizing the pitfalls of rapid growth and the need for brands to adapt to technology. Personal anecdotes and reflections on iconic establishments, including Howard Johnson's, highlight the evolving landscape of retail and consumer preferences, reminding us of the significance of brand identity.
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Growth and Brand Identity Risks
- Growing too quickly can lead to failure in retail chains.
- Staying true to your brand identity is crucial to maintain success.
Blockbuster's Missed Pivot
- Blockbuster's reluctance to adapt led to its demise despite vast expansion.
- They famously rejected Netflix's $50 million offer, missing the pivot to streaming.
Service Merchandise Innovation
- Service Merchandise pioneered catalog showroom retailing and conveyor belt order delivery.
- It bridged Sears catalog retailing and e-commerce, creating a unique shopping experience.