Friday, November 27, 2009

Stupid Black Friday Failure

So I was out at Coral Ridge Mall in Coralville, Iowa, this morning along with throngs of people shopping their heads of for the early morning Black Friday sale. The big stores at the mall such as Yonkers, Sears, JC Penney opened at 4:00 am, while Best Buy and Target opened at 5:00 am.

Now, the inside-mall entrance to Target is next to the food court. There was already a long line of shoppers way before the doors opened for both Target and Best Buy, which is next to Target. Now, one would think that you got this long lines of people waiting to get in, and with the big stores in the mall already open, you have this large number of potential customers who haven't had their breakfast and their coffee that morning. If I were a proprietor of one of these eating establishment at the food court, it is a no-brainer that I would open my store to serve breakfast. Guess what? Only ONE counter serving breakfast/coffee was open early in the morning, and even they had very limited menu (no breakfast burito). Other establishments, especially Panera Bread, didn't open till 6:00 am, waaaaay after the lines getting into Target was long gone.

One doesn't need an MBA degree to realize that there was a missing opportunity here to make money. In this tough economic times, you'd think that someone would do a little bit of thinking on how to take advantage of such a window of opportunity to make money. Even considering the salary they have to pay to get people to come in early that morning, I'd think they'd make enough to cover those within the first 15 minutes of opening. It boggled my mind that in all of that mall, only ONE place was open by around 5:00 am to serve coffee/breakfast. Even with a limited breakfast service, that counter service was having non-stop lines servicing bad coffee and mediocre rolls and bagels. Imagine a Panera Bread opening at the same time. It'll clean up big time simply from all those people standing in line to get into Best Buy and Target, not to mention, the shoppers coming in from Yonkers, JC Penny, etc.

Have people lost the instinct to recognize a golden opportunity here?

Zz.

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