My business predictions came true

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At the end of 2006 I made a numner of predictions which I talked about at one of my events.

Simpy put that business failure rates would increase rapidly and hey presto…here is the proof (slightly alarming) and what is even more alarming is that there may be more to come.

Channel Web

Computing

Firstrung

I was reading the Weekend Mail and as I finsihed a section and began browsing through the rest of the paper my attention was divertd to a pretty insignificant page insert entitled:

“Victims of the clothing squeeze”

Listed were some historically large names in the clothing industry that had suffered the final blow and were no more, just take a look at the list below

Ethel Austin (300 stores) – in administration.
Select Retail (250 stores) – placed into administration in February and since acquired by a supplier.
Dolcis (67 stores) – put into administration in January

I didn’t recognise all of them and so began a discussion with friends and family (mostly older than myself) and I was shocked to learn that these were once infamous and successful businesses in the retailing sector.

So what happened….simple they lost touch ith their customers needs and wants…..the customers moved on….the supplier refused and was eventually killed off.

From Business Growth Development, post My business predictions came true