Bad in-store experiences have, in some ways, defined retail trends for the past 15 years. Between staffing shortages, product lock-ups, self-checkout kiosks being displaced, and an endless push toward online shopping, some retailers are beginning to resent the very need to entertain customers. After all, wouldn’t it be more efficient and cost-effective to operate something like a large vending machine?
By the time COVID-19 hit, brick-and-mortar chains of all kinds, including department stores, drug stores, big-box stores, and mall brands, had clumsily overhauled their in-store operations. They closed numerous stores, starved their remaining staff and resources, and filled shelves with cheap, low-quality products that buyers would not have tolerated in previous decades. The change is a sign of what Bloomberg Opinion columnist Beth Kowitt describes as “the bean counter’s revenge.” Across the industry, career bankers and financiers are being appointed by boards looking for a steady hand in turbulent times, or by private equity owners to squeeze more profits out of companies. , is controlling more and more companies.
