Circuit City and other Retail Changes
Today the New York Times reported that Circuit City will be closing down. Circuit City has 30,000 employees so that’s 30K more people being added to the unemployment line. Once again, I reiterate the problems with a JOB. Apart from just layoffs to cut expenses, whole companies can collapse. And Circuit City is not the only one; there are lot of other large retailers having problems with liquidity. The Retail Industry used to be a somewhat recession proof business and people could always look to it for jobs (even if they weren’t very good paying jobs).
According to CNN Money, there is a paradigm shift in retail that’s coming along with this recession. What does this mean for home based businesses like MyWirelessRep? The conditions are favorable for home based businesses including MyWirelessRep. I can easily see this paradigm shift favoring people shopping for wireless products and services online and through direct sales over going to retail stores like the Verizon Stores or AT&T Stores. This is because the business model of Lightyear Wireless is streamlined, compact, and the independent reps have light overhead in our businesses unlike brick and mortar retail stores. I don’t revel in store closures, but I just say to those 30,000 ex-employees of Circuit City: have you thought about a home based business selling wireless good and services?
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