Sears, once the biggest retailer in the U.S., has struggled to stay afloat. Unable to secure a quick cash infusion, on October 15th, Sears has widely reported its intention to seek bankruptcy protection. Sears Holdings plans to close 142 Sears and Kmart unprofitable stores by year end 2018. The rest will operate under Chapter 11 […]
The story of mall closures is complex, but creditors could be the unsung lynchpins in America’s ever-widening retail closure pandemic. To read our commentary, visit Investor Business Daily.
The transformation in retailing from bricks and mortar to online with home delivery is still underway. Within that transition, costs are being pared and young consumers’ tastes are better accommodated. Online has captured about 15% of retail sales, and its share is growing a point or two each year. Arch rivals, Amazon and Walmart are […]
Few of us are indifferent about “going shopping.” Some look forward to shopping for apparel, music or groceries but for many of us it’s a chore we want to avoid. Those using mobile or online shopping are relieved of some of the effort and inconvenience that shopping entails, but mobile and online buying lack some […]
A sales tax imposed on Internet purchases has had many proponents, since the inception of the Internet, wanting to force online retailers to collect sales taxes on items purchased by consumers via their website. Last year, the Senate passed the Marketplace Fairness Act, which would require retailers to collect sales taxes based on where the […]
A new poll just out by Gallup shows that support for an Internet sales tax is more unpopular than ever. According to the poll, 57% of respondents oppose implementation of the Marketplace Fairness Act, with only 39% wanting it passed. When you break out a younger age group, an astonishing 73% of consumers aged 18-29 […]
Breakage is a term merchants use to describe the unredeemed value that consumers hold in gift cards, store credits, transit fare cards, airline miles and other “rewards” schemes. In 2009, $87 billion worth of gift cards was purchased. Also in 2009, there was an accumulated $30 billion of unredeemed gift cards in consumer’s hands. The […]
Have you bought anything online lately? If you’ve bought something from Amazon or Zappos or any other number of online-only retailers, you didn’t pay any sales tax. Chances are also good that you made your purchase online because of that fact—you knew you could save a good chunk of money by making your purchase online. […]
ACI’s study on retail electronic goods is mentioned in this article by the examiner. The article discusses how New York City residents do a significant amount of shopping outside of the city, in part because some big-box stores are not allowed to set up shop in the city. The article points out that this results in lost taxes […]
Professor Fuhr is quoted in this article.