The Customer Demographics At Our Local Sears Store
Today I accompanied my parents to our local Sears store to find a replacement for the Kenmore vacuum cleaner that served us for nearly 27 years with another new vacuum cleaner wearing a Kenmore badge. Taking my parents out to shop is quite a stressful job, not because they don't agree or agree to disagree but they intentionally intend to anger each other as I was acting like United Nations (pretending to do something and in reality doing nothing hoping things will fix itself). As I was at the Sears Store majority of the customers there were of Silent Generation, Baby Boomers and Generation X demographic. There wasn't any Millenials or Generation Z during my visit today which is another demographic Sears Holdings should try to market and attract, but than again the majority of the wealth and good paying jobs are held by Silent Generation (wealth), Baby Boomers followed by Generation X and at present Millenials and Generation Z are waiting for theirs which for that reason Corporate America is neglecting them at this moment.
If you ask anybody what is a popular Sears brand, the top three anwers will be Kenmore (brand), Craftsman (tools), and DieHard (brand). What other chain retailer has slapped its own brand name badge on products manufactured by other bigger brand manufacturer with having a successful reputation? What other chain retailer has sold its name for $900,000,000?
"On January 5, 2017, Stanley Black & Decker announced its intent to acquire the Craftsman brand in a deal with a total value of $900 million (with an up-front payment of $525 million, and a payment of $250 million after three years). Sears will hold a royalty-free license to the Craftsman brand for a 15-year period after the completion of the sale, and will receive a royalty on all new Craftsman sales over this period. Afterwards, Sears will pay Stanley Black & Decker a 3% licensing fee. The deal closed on March 9, 2017."
Going onto Sears Holding website to research more of Kenmore, Craftsman, and DieHard, Sears had a advantage over other modern chain retailers that didn't have and that is time. It took Sears a half century to more than a century to make its brands mean something. The only thing that's on many Sears loyal customers minds nowadays is its staying power in a ever increasing competitive and technological world. Our regional Sears store has plenty of Baby Boomers and Generation X to keep them open for a couple of more decades to come or until the Millenials, Generation Z, and thereafter pick up the slack.