Bradford will be losing its Giant Tiger store forever. Giant Tiger executives decided their Bradford location was just not in their long term plans. The potential closure has been well documented by local media, and by individuals sending e-mails to head office to petition against the store closing. Even the mayor approached Giant Tiger personally and pleaded to keep their doors open to the general public.
This blog post is to get behind the decision of why this store is closing. Here’s my reasoning as to why the store closure is now final:
· Giant Tiger executives likely knew for a very long time the store was not making enough sales to keep the store open. A decision was made last year to close the store, and announce to the public and that was that. What happened was a public relations situation the chain was likely not expecting. Soon, local residents responded with e-mails, Facebook posts, and letters to local newspapers to protest their decision. With the potential of a public relations nightmare, the store quickly reopened
and would stay open if sales figures returned to 2008 levels.
· The Bradford store was a victim of Giant Tiger’s strategy of rapid expansion into the southern Ontario market. Too many store openings in too many locations with strong competition is not a recipe for success.
· Wal-Mart came opened a massive superstore! Wal-mart is a retail giant!
· The Newmarket location is close enough for current customers to get their Giant Tiger fix.
· Giant Tiger attracts customers with low costs, and high sales volumes to maintain a viable business. If either of these two elements doesn’t exist, the store cannot possibly stay open.
· Giant Tiger executives were watching the performance of the store. A measurement likely monitored is the sales per square foot. The Giant tiger average is about $300 per square foot. If these figures aren’t met on a regular basis, head office targets the store to close down forever.
I decided to do some “due diligence” to see if there are other Giant Tiger locations with closures that made headlines in the past. I lucked out. The store located in Potsdam and St. Lawrence County was also closed. Rather than just thanking the community, Giant Tiger stated that they were closing this store because they stated they had strong competition and an uncertain economy. Wal-mart was the competition, is that a surprise?
There are losers here. We all lose. Why? Because we didn’t support Giant Tiger. We didn’t open our wallets enough to spend our money. Or so we are told. As a result, thirty employees will be out of work on March 1st. Charities will also suffer. Giant Tiger over the years were very supportive of community initiatives.