Sep 13 2009
Fresno Bee: Smart Buys at Stupid Prices will shut all 22 locations.
Smart Buys at Stupid Prices will shut all 22 locations.
Published online on Thursday, Sep. 10, 2009
By Bethany Clough / The Fresno Bee
Discount retailer Smart Buys at Stupid Prices is closing all its 22 stores, including the Fresno store that opened less than a year ago, according to the Fresno store’s manager.
Experts say the closure is proof that it takes more than low prices to make it in this economy. The Washington-based chain, which sells surplus and close-out merchandise from other retailers, has stores in California and Washington.
…more
2 Responses to “Fresno Bee: Smart Buys at Stupid Prices will shut all 22 locations.”
I did a story about Smart Buys on my blog when it expanded to its present location in the Kenmore Square.
http://kenmore2.neighborhoodsundressed.com/2009/02/22/smart-buys-at-stupid-prices-getting-bigger-and-better-in-kenmore/
At that time the owner explained to me that the “discount pricing” model would fit well into the current economic climate. My thought at that time was, simply put, that there are and will continue to be far too many retailers in the economy to serve a smaller shopping public.
Surprisingly, Americans are actually SAVING money these days (those that aren’t up to their eyeballs in debt….and there are plenty of them as well). The fact is, there is only so much STUFF people can buy no matter what the price.
Perhaps those who are planning the future of Kenmore should learn a lesson from this: Kenmore doesn’t need more retail businesses. We need businesses that make things or offer “value added” high-quality services.
I’m sorry that Smart Prices didn’t succeed. When things like this happen, my thoughts go out to those who have lost their jobs. I hope they can find new opportunities soon.
[...] first on KBIN, then on Kenmore Blog.net, and most recently over at Kenmore Undressed, Kenmore’s discount store Stupid Prices (more [...]