You must be aware that in a business, you need to take tough decisions as well. And one of them has been taken by Bose as it has announced that more than 100 of its retail stores will be shut down. And the reason Bose has given is that it is seeing great online sales for its products and it does not need brick-and-mortar stores anymore.
However, we also know that there are some parts of the world where the retail stores will still dominate sales. One reason being that Bose’s products are costlier compared to others which means people like to buy it personally rather than buying them online.
For this reason, Bose has said that its retail stores in North America, Europe, Japan, and Australia. At the same time, Bose reveals that more than 100 of its stores in China, the UAE, India and other Asian countries will still remain functional.
As far as the stores in North America, Europe, Japan and Australia are concerned, we are sure that there will be lay-offs as well so it is still left to see what happens to those employees. As per a report from The Verge, hundreds of employees will result in being laid off due to this decision.
Bose reveals that its products such as headphones, speakers and other similar products “are increasingly purchased through e-commerce”. It must be noted that Bose, apart from selling on its own store, also sells its products online via Amazon, Best Buy and other retail stores in North America.
Bose’s vice president reveals that their decision to open retail stores back in the 90s was to let its customers experience the entertainment system. He added that “At the time, it was a radical idea, but we focused on what our customers needed, and where they needed it — and we’re doing the same thing now.”