The promise wasn’t luxury, it was frequency. Small traffic drops hit harder when the model ran on thin room for error.
It didn’t pull people in. It converted passersby. Once visits spread out, fixed costs hit harder.
Experience was the moat. Once the screen did the same job, the box stopped working at scale.
250+ locations — it worked when “casual” still felt like going somewhere. Then the middle got crowded.
CompUSA scaled on in-person comparison — then the category learned to sell itself online.
200 stores and about $1B in revenue — built on physical discovery. Digital made the trip optional.
In pharmacy, execution compounds. Consolidation rewarded the operators with stronger systems.
Volume wasn’t the issue. When a brand can’t claim clear territory, it turns from asset into duplication.
Borders built a big retail experience around discovery. The costs held until the category changed.
Apr 14, 2026
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