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Sears Scrambles for a Lifeline by Miguel Bustillo and Geoffrey A. Fowler

Sears Scrambles for a Lifeline by Miguel Bustillo and Geoffrey A. Fowler. Presented by Greg Russo, Shawn Stormer , Britney Melcher and Lyndsey Robison. Sears Sales.

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Sears Scrambles for a Lifeline by Miguel Bustillo and Geoffrey A. Fowler

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  1. Sears Scrambles for a Lifelineby Miguel Bustillo and Geoffrey A. Fowler Presented by Greg Russo, Shawn Stormer, Britney Melcher and Lyndsey Robison

  2. Sears Sales • 5 years ago, hedge-fund billionaire Edward S. Lampert merged Sears and Kmart and since then, the merchants have been shrinking. • So Sears has quickly created web sites and mobile-phone apps to help with their sales calling this campaign “Shop Your Way” • This is a way for Sears to play catch up with its competitors

  3. Sears Sales • Lampert promised because of the merger, that the sum of the entity would be eventually worth more than its parts. • Hasn’t happened • Sears’ revenues fell 7.8 % last year to $46.8 bill

  4. Online Sales • Online sales have increased in the past two years: • $2.7 Billion in 2008 (6% of total company sales) • More than WalMart’s $1.7 Billion • In November 2009, critical month for shopping: • Unique visitors grew by 22% to Sears.com and 42%to Kmart.com according to Compete, Inc.

  5. MyGofer • Launched in Joliet, Illinois • Converted an entire Kmart store to a pick-up only site for internet orders. • Complete with a drive-through

  6. Flagship Sears- Chicago, IL • A team of 180 e-commerce whizzes began searching for a way to sell Kenmore Appliances and Craftsman tools in this age of iPhone apps and Twitter • Some of the e-commerce workers have experience from Orbitz.com and Amazon.com

  7. Their Tests • Recently, the workers tested their phone creations: • Selected customers in the store • Took them to their laboratory upstairs • Testers sit across from subjects through a plate glass window and speak through microphone • Camera watches the subjects eyes look around the computer screen

  8. New Online Innovations • Social networking with the help of Chicago Company, Viewpoints Network: • Launched MySears.com and MyKmart.com and now have 400,000 users • Log in with facebook accounts and ask questions about specific products and make reviews

  9. New Online Innovations • Amazon is the largest online retailer with record revenue • Sears Marketplace • Sears took a page from Amazon and eBay Inc. and created Sears Marketplace • Lists items from other sellers on its pages in exchange for a cut of sales. • Every purchase made, Sears collects a commission of 7% to 20% • Its total online merchandise options now tops 10 million items

  10. New iPhone App for Sears • Sears Personal Shopper • Allows customers to photograph passerby’s shoes or other object of desire • Send picture to sales worker • They will find them for sale • Amazon launched a similar app in 2008

  11. Sears Future • Although all the efforts made, Sears still is not doing as well as hoped • MyGofer site is full of “rookie” mistakes and pick up location terminal broken often • Operating over 400 money-losing stores that they can not afford to close because short term costs exceed savings

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