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/ Source: TODAY
By Ronnie Koenig
That's bad news for discount shoes fans ̵
With other well-known retailers such as Gymboree and the Charlotte Russe store, it becomes less surprising to see stores once shopping centers disappear. Multitasking moms and dads have started buying more and more items online and stores that were once busy, have found themselves encrypting to compete with internet sales and big boxing stores like Target and Walmart.
"I used to shop for my kids in priceless years ago," says Ellen Huggins, a mother of three from Lindenhurst, New York today. "The way small runs through shoes, made Payless our go-for for cheap goods, they had even extra wide for [my son’s] huge feet. As the children grew, the prices went up accordingly. It was not cheaper [and] shopping at Zappos or department stores were comparable in pricing. "
" Payless tries to compete over Target, but under DSW and to sell at that price point – and also keep the quality high enough for people to want to buy it – is difficult. It became too difficult for a puzzle to solve, "said Jay Sole, UBS shoe analyst, today." People go elsewhere. Today's consumer cares about convenience. It's easier to go online or to a one-time store like Walmart, where you can get the other things you need, says Sole. "To shop online, places like DSW have a better online presence."
According to the Associated Press, Payless, the closures will not affect their Latin American stores, which will be open to business as usual.
Payless ShoeSource was founded in 1956 by two cousins, Louis and Shaol Lee Pozez, as an alternative to high-end shoes stores. The store's concept focused on letting customers serve themselves from the shelves. But with the changing times, it seems that no brand is safe from the possibility of liquidation. Last year, the audience was amazed to say goodbye to Toy's "R" Us, the iconic toy store that had earned Americans 70 years before they closed the doors well in June 2018.
It's another good idea to use some merchandise credits you have ASAP, stock up on new kicks for the family and grab the good deals while they last.