We are sure that you must have heard of a brand named Bose which is quite famous for its earphones, headphones and speakers. Basically, Bose is a brand which makes equipment for the music industry and enthusiasts in general. One of the most popular products in recent times from Bose is its noise-cancelling headphones as well as earphones.
Also, we know that they are selling quite well and in numbers recently too. So there is no reason why Bose would need to shutter more than 100 of its retail stores all of sudden. But that is exactly what is happening if a new report from CNN is to be believed.
Yes, the CNN report mentions that the company is looking to shut down and cut its retail presence all over the world. It has already moved to close 100+ retail stores worldwide including a majority of them in the US. As per the company statement, this is because of a “dramatic shift” in online shopping which has reduced footfall in their retail stores.
The official statement from Bose reveals that “it’s closing 119 retail stores worldwide across North America, Europe, Japan and Australia”. However, it will continue to operate 130 stores around China, India, the United Arab Emirates, and other Asian countries. Now, we believe that these stores are seeing better footfall as per the company’s records which is why they have decided to not shutter them down as well.
Bose also said that they no longer see the need to have brick-and-mortar stores since their customers are buying their products online anyways. Apart from selling online, Bose also sells via online retailers such as Amazon, Target and Best Buy so it generally does not make sense to have a retail presence of their own now that the online sales are dominating retail sales.