In any given neighborhood, you’re apt to find a mix of national chains and mom-and-pop stores. And while a retail giant like Walmart or Dollar General might have the lowest prices, there’s something to be said for shopping locally.
When you walk into a mom-and-pop store, you know the owners care about getting your business. So while you might pay a few dollars more for the items you’re buying, in return, you might get better customer service, along with superior quality.
Case in point: Your neighborhood toy store might charge 3% to 7% more for products than what you’ll pay on Amazon.
But Amazon isn’t going to help you pick out the perfect gift for your boss’s 6-year-old child. A neighborhood toy store employee will.
It’s often the case that retail chains and local stores can coexist peacefully with one another. But over time, there’s a real risk of the neighborhood shops you know and love going out of business.
You may not bemoan the loss of a national chain, since chances are, there’s another one in the next town over.
But losing a mom-and-pop store that’s been a mainstay in your neighborhood can be devastating – especially if you know the staff and were accustomed to a certain level of service.
Image source: Shutterstock
117-year-old hardware store closing after successful run
In Mechanicsburg, Pa., customers are used to walking into Ritter’s True Value Hardware for their household essentials and home-improvement needs. But now, the iconic store has announced that it will close permanently after a successful 117 years in business.
Ritter’s is holding a liquidation sale to clear out its inventory before it closes its doors for good. The owners of Ritter’s have been toying with the idea of closing the store for quite some time, and have finally made their decision official.
“It’s obviously sad. It’s a staple of Mechanicsburg borough,” store manager Phil Shearer told The Street. “Our loyal customers are upset. We’ve dealt with them for 40-plus years.”
Related: BJ’s Wholesale gives members a reason to ditch Costco
For Mechanicsburg residents, the loss of Ritter’s doesn’t just mean they’ll need to find another source for home goods and supplies. It means they’re losing the personal touch and friendly atmosphere that can only be found in a local store.
Ritter’s began in a living room before becoming a saddle shop and eventually expanding into a hardware store. As a third-generation family business, it’s been a staple in Mechanicsburg and a huge supporter of the local community.
Customers have been flooding the store since the closure announcement — both to stock up on discounted merchandise and say goodbye.
Although the store is slated to close on September 30, Ritter’s indicated that its final day of business could be sooner, depending on whether it has any inventory left.
Stiff competition from national chains helped lead to closure of Ritter’s True Value Hardware
Having large retailers come into town and drive small businesses out is a tale as old as time.
Despite being such a fixture in the community, over the past decade and change, Ritter’s has struggled to keep up with giant competitors like Lowe’s and Home Depot, both of which are just minutes away.
Related: Costco makes bold move that could scare Home Depot
When asked point-blank if Home Depot and Lowe’s were the drivers of the decision to close Ritter’s for good, Shearer told The Street, “There’s a lot of factors that played into it. That would be one of them.”
But the reality is that even if Ritter’s owners had other reasons behind the closure, it’s hard to overlook the fact that as national chains and big-box stores expand, small businesses will increasingly struggle to stay afloat.
There are 32.4 million family businesses in the U.S., according to Business Initiative. And while that may sound like a lot, the reality is that all it takes is a single Target or Walmart to come into town and shutter dozens of local businesses in short order.
More Retail:
- Walmart CEO sounds alarm on a big problem for customers
- Target makes a change that might scare Walmart, Costco
- Top investor takes firm stance on troubled retail brand
- Walmart and Costco making major change affecting all customers
That doesn’t just hurt customers, though. It hurts communities.
Mechanicsburg residents will no doubt have their pick of retail giants to turn to when Ritter’s finally winds down. In addition to Home Depot and Lowe’s, there’s a Walmart Supercenter less than 10 minutes away.
Whether Ritter’s most loyal, long-term customers get the same level of service at any of these retail giants remains to be seen.
Related: Costco rival launches megastore and membership deal
#Beloved #117yearold #Home #Depot #rival #closing #liquidating