Ed Talk TV Ep. 55: The collapse of Toys “R” Us
I love this video from The Dave Ramsey Show that one of our viewers shared with me regarding this same topic of Toys “R” Us closing.
And here is Gary Vaynerchuk’s take on this…
And here is a discussion a couple guests and I had around The rise and fall of brick & mortar stores – what does it all mean?
Aw my phone is playing up, I lost you. Where was I?
Ah I see
We need to be proud of our journey
Just got home from taking the kids to a trampoline park. Last day of Spring Break here.
Keep up the great work everyone!!!
Someone I follow teaches to keep a “Wins” journal. All wins big or small have to be celebrated!
Oooo Mindy I like that!
Love that, it’s only recently that I have realised how far I have come
Did my weekly newsletter today, that always me feel good that I’ve managed to do it for another week!
It’s good to track how far you’ve come!
I have a calendar that I put a heart sticker on every day I do something to give love to my business. #nozerodays
Terrible photo, but you get the idea.
Thanks! I was inspired to use this system because I’m often frustrated by not being able to get enough done. This allows me to celebrate small victories and know that I am making progress, even if it’s slow.
Respectful Connection I love it! Whatever works right?
To see how far you have come and how much you have grown
We forget what we’ve accomplished
I used to think that I was failing at everything personal and business but my mindset has changed now
👏🏼 and you are doing so much — it’s amazing be able to watch your journey
and you are doing so much — it’s amazing be able to watch your journey
Respectful Connection that’s awesome!
Good lord, that alone is a lot of work
Yeah we’re jumping in!
Yes we do
🙁 🙁 🙁 🙁 I just wanna be a toys r us kid.
And I think that’s what we’re all more sad about — the feeling they gave us.
My kids are not happy they love toys r us
It’s hard to see a lot of iconic stores start to close … like Sears, Blockbuster, etc etc … breaks the heart
My daughter waits for the Toys R Us book at Christmas!
Paula same for my son.
Yes I wanna see the product mostly
Is rather go to a store
Sure, I like going into stores …
I mostly shop online because of time but yes I do
Target, Trader Joe’s …
BUT I have been guilty of going into a store to see something physically, then will buy it online …. 😬😬
BUT I have been guilty of going into a store to see something physically, then will buy it online ….
I do Christmas shopping online. Clothing and that kind of thing I want to go to the store… unless the kids are with me 😂
I do Christmas shopping online. Clothing and that kind of thing I want to go to the store… unless the kids are with me
I prefer going into a store, but if it’s something I don’t need immediately or need to try on or see in person, I much prefer Amazon. Going to the store with my 4.5 year old and 2 year old can be a lot of work.
My team is me and me
Customers
Products
That would help lol
Never
Yes, approximately 30,000 employees
Waiting for the big liquidation sale!
🏃🏽♀️🏃🏽♀️🏃🏽♀️🏃🏽♀️🏃🏽♀️🏃🏽♀️🏃🏽♀️
They’ll have a closing down sale
I’m hoping I can go Christmas shopping early.
Amazon will buy the toys … I’m trying not to make that sound like a joke, but it’s probably true or at least a version of it
Lol my kids already have too many toys.
Just took a carload to sell at a consignment sale.
Micki is in DA HOUSE!
Hey Aditi Ramchandani!
Don’t they own any of them?
😄shhhhh Erica!!! I was sneaking!! 😂🏃🏽♀️🏃🏽♀️🏃🏽♀️🏃🏽♀️
shhhhh Erica!!! I was sneaking!!
Payback! 🤣🤣🤣🤣
Payback!
We need fewer toys, not more! 😬
We need fewer toys, not more!
I saw you throwin! bows Ed!! 😂
I saw you throwin! bows Ed!!
Doesn’t toys r us own any of the buildings?
😂😂😂Erica you got me!
Erica you got me!
Brick n mortar is dying. No?
Hi Jessie!
Yessss!! They didn’t revisit their customer maps!
Hey Mindy 🤗 and hi Ed 😊
Hey Mindy and hi Ed
Micki, that thought crossed my mind!! But then, Target, Wal-mart, those guys don’t seem to be going anywhere … they are doing something right …. 🤔🤔🤔🤔
They don’t just sell toys 😉
I think a big reason places like Target and Wal-Mart do well is because they have practically everything. Especially if you have young kids, it is really tough to run around to a bunch of different stores to get different things.
Respectful Connection so true!
Ed, ah! Truth!
Respectful Connection
I would love to unpack B & M stores further — Kmart was once one of the “everything” stores. (Though I know they never quite made it into the grocery realm.) Bye bye. Would you consider stores like Home Depot and Lowe’s to be stores that fill in the gaps where Walmart & Target leave off? Obviously they are primarily hardware & garden (arguably a niche) … Walgreens & CVS, while pharmacies, could also double as giant convenience stores. … It a fun topic to explore. The rise and fall of businesses has always been fascinating to me. Ed Micki Erin
Future EdTalkTV discussion, lol!
Erica Rodriguez Maier I love rise and fall stories too!! Every business really does have a life cycle even though for a season one might seem eternal. I can’t see Lowes and HD going under soon because that’s not a product you can always buy online or that fits well into a department store. Sears is doing its best to hang on trying to keep hardware and appliances with clothing and jewelry but DIYers want lumber, aluminum siding etc. and Sears ain’t got no room for that.
Micki Webb YES! Buying lumber online is tougher, right?? LOL I love it!! So true! My brain then went to the demise of Best Buy & Circuit City, once electronics giants, which of course can all be bought online. By biggest wonder — can a GIANT NICHE store survive online competition? It’s a fascinating topic!!! 🙌🏼🙌🏼🙌🏼 Glad you feel the same Micki!! 😄😄😄
Erica Rodriguez Maier I love this topic! We should carry this conversation on next week’s show. Maybe get you to come on live too?
Keep me posted
Ed Troxell can you bring MULTIPLE people on as live guests?! Now THAT could be a fun roundtable!
Erica Rodriguez Maier yes!!! Let’s try it this week! Micki Webb?
Supposedly I can bring four people on at the same time via Skype and Ecamm.
Ed Troxell LET’S TRY! That would be FUN!
Erica Rodriguez Maier it really would be!
Currently I have 1 guest booked for Tuesday’s show, otherwise I’m free so just keep me posted.
Ed Troxell Whatever is good for Micki, and even if Erin wants to join in. I’m flexible!
This sounds like a great conversation, guys! I’ll have to decline being a guest – I’ll be with my kiddos – but will try to tune in if possible! 😊
Wooo hooo! Consumers’ Panel!!! I’m in! I can do Wed Thur or Fri.
Micki Webb Erica Rodriguez Maier should we shoot for Wednesday?
Ed Troxell Wednesday works for me!! I’m excited!!
Erica Rodriguez Maier cool! Will be in touch then – Micki Webb too!
Micki, that thought crossed my mind!! But then, Target, Wal-mart, those guys don’t seem to be going anywhere … they are doing something right ….
They don’t just sell toys
Micki Webb YES! Buying lumber online is tougher, right?? LOL I love it!! So true! My brain then went to the demise of Best Buy & Circuit City, once electronics giants, which of course can all be bought online. By biggest wonder — can a GIANT NICHE store survive online competition? It’s a fascinating topic!!! Glad you feel the same Micki!!
This sounds like a great conversation, guys! I’ll have to decline being a guest – I’ll be with my kiddos – but will try to tune in if possible!
Giant retail spaces are tough. There is a giant space near the Safeway in Petaluma where the Halloween store goes; the rest of the year it’s empty. Also several downtown stores have had to move to smaller buildings and less prime locations.
Oooh! True Erica! Target gets allll my money!!
Stores are always closing
The ever-faithful Halloween store!
Yep! We have so many empty storefronts in Whittier (suburb of L.A.)
Even cafes and newsagents
Yes some of the places have become like ghost towns
We have a whole mall that shut down. Used to be the best mall.
Yes Teri ghost towns its very sad
Have y’all seen the YouTube videos of abandoned malls?! Incredibly haunting and sad
So sad!
Every business has a lifecycle. 😬
Every business has a lifecycle.
Yep Erica. I’ve seen that abandoned mall video. Creepy and sad!
Back in the day, when I was directing commercials, I tried to get a car dealership to consider a social media campaign (forward-thinking at the time) and they were so closed to the idea because of old-school mentality … smh
Yes! Thank you for sharing that with us as that’s a perfect example.
Have to go now. Way past my bedtime lol
Night
Good night Teresa.
Night Teri
Goodnight Micki
Night Vicki. You’d better not be too far behind 🙂
Night Vicki. You’d better not be too far behind
Go LIVE or die! (See what I did there? 😄)
Go LIVE or die! (See what I did there? )
Mickiiiiiii, lol
We’re proud of you, Ed!
Sowing the seeds
Have a great productive weekend!
Have a great weekend guys!
Enjoy Whitny Nicole, Creative Business Strategist
Hey guys I just discovered another FB change! Or I’m late and you already knew. In groups, when you click on the name or profile pic of a group member who commented or posted, FB takes you to a special page telling you how long the person has been a member of the group and showing you all of their posts in the group instead of taking you to the person’s profile page! 😮Do we like this or no?
Oh, Facebook, it’s like I never knew you at all. 😂
Micki Webb so true! 🤦♂️
The changes are just coming at us like every second.
Micki, I’ll have to check if I have that feature! Interesting …
Oh now I see it! Hmmmm …
Erica Rodriguez Maier Yeah. I kind of like that maybe people feel they have a bit more privacy or maybe will get fewer spammy friend requests since clicking on their names won’t shoot straight to their personal profile pages. But if you have been in a group a while and want to friend each other how would that work? Do a search to find the profile page?
Hey guys I just discovered another FB change! Or I’m late and you already knew. In groups, when you click on the name or profile pic of a group member who commented or posted, FB takes you to a special page telling you how long the person has been a member of the group and showing you all of their posts in the group instead of taking you to the person’s profile page! Do we like this or no?
Oh, Facebook, it’s like I never knew you at all.
Micki Webb so true!
The changes are just coming at us like every second.
And for those who are curious (Erica R. Maier – Author we talked about this with both of our examples right?):
“Innovate or die .. The #1 reason ToysRus is bankrupt.. An important lesson.. and a great example for things to come..
https://www.facebook.com/gary/videos/10156154471098350/“
Thank you Gary Vaynerchuk! 👏🏼
Oooh, thanks for linking this. Yes!
And for those who are curious (Erica R. Maier – Author we talked about this with both of our examples right?):
“Innovate or die .. The #1 reason ToysRus is bankrupt.. An important lesson.. and a great example for things to come..
https://www.facebook.com/gary/videos/10156154471098350/“
Thank you Gary Vaynerchuk!