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August 13, 2014 (ET)A recent visit to the Florence Meat Market on Great Jones Street in Greenwich Village revealed lessens for all retailers -- especially Radio Shack. At almost 100 years of age, Florence Meat Market shows no signs of trouble.
1. Florence Meat Market has vast competition. Big chain supermarkets, chain meat markets, medium size markets, organic nonsense markets, etc. Florence thrives because it does not respond to the competition. Customers who shopped the store 50 years ago find the exact same merchandising and product offerings today. Nothing has changed.
At Radio Shack there is a shelf full of lame radios amid dozens of other products in the store. According to Nielson, 65% of Americans will listen to radio today. Wouldn’t it make sense for Radio Shack to deliver on its name and sell great radios?
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