Who killed Blockbuster?
Was it Netflix and the rapid advance of technology? Or was there more to it than that?
Here is a fascinating in-depth article by reporter – and one time Blockbuster employee – Ben Unglesbee. As he tracks the rapid rise and equally rapid fall of Blockbuster, it makes for a meaningful and useful case study with clear lessons for retail bricks and mortar stores that hope to survive over the next few years.
Talking of survival, the last Blockbuster store on Earth was supposed to close this year. Its owner, Ken Tisher once had five stores in his franchise. Store by store, he closed each one as the recession, and other market pressures killing off other video stores, caught up with him too.
Before 2019 came, he thought it would likely be the year he would close the only one still standing, in Bend, Oregon, USA. This year, it became the last in the world.
It seems though that the store’s very precariousness has led to a sales surge. People from around the world want to visit the planet’s last Blockbuster before it’s gone. That makes Tisher a bit like a zookeeper caring for the last animal of its species. And who knows how long people will be interested in coming to his living museum of retail past.
Visual courtesy Retail Dive