They literally can’t. They’ll barely staying afloat in our post-capitalist society.
Think of it this way. Kohl’s has around 90,000+ employees in numerous brick and mortar stores. Their sales have been plummeting quarter over quarter for the last few years as internet businesses that do the same thing that they do (clothes, make-up, and accessories) do it for a fraction of the employees. When a company of about 700 employees is able to do the same job online as brick-and-mortar store that’s 100x bigger than them, money becomes consolidated in a few, instead of spread out among many.
The other issue is that buyers are shopping more online than going out to brick and mortar shops as well. It’s essentially killing so many businesses.
I’m terrified of what the next 20 years are going to look like. There’s going to be hundreds of thousands of people out of a job, and the wealth gap is only going to increase further and further.
Check out their quarterly earnings reports. The’re revenue is decreasing by 5-10% QoQ for like the last few years. They’re going to be shuttering a few dozen stores likely this year.
They literally can’t. They’ll barely staying afloat in our post-capitalist society.
Think of it this way. Kohl’s has around 90,000+ employees in numerous brick and mortar stores. Their sales have been plummeting quarter over quarter for the last few years as internet businesses that do the same thing that they do (clothes, make-up, and accessories) do it for a fraction of the employees. When a company of about 700 employees is able to do the same job online as brick-and-mortar store that’s 100x bigger than them, money becomes consolidated in a few, instead of spread out among many.
The other issue is that buyers are shopping more online than going out to brick and mortar shops as well. It’s essentially killing so many businesses.
I’m terrified of what the next 20 years are going to look like. There’s going to be hundreds of thousands of people out of a job, and the wealth gap is only going to increase further and further.
It’s strange that Kohl’s is dying. Every time I go in there it’s full of customers with long lines at the checkout.
Check out their quarterly earnings reports. The’re revenue is decreasing by 5-10% QoQ for like the last few years. They’re going to be shuttering a few dozen stores likely this year.
Lol!