Inflation recession ,bankruptcies

Discussion in 'Canadian Truckers Forum' started by Brucesmith, May 24, 2022.

  1. Brucesmith

    Brucesmith Heavy Load Member

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    I have been watching recent changes to the economy. We all know about shortages and fuel prices. Yesterday on Freightwaves they were discussing Walmart and Target. Both have reported lower sales. One was a 35% drop. The other was over 20%. This is the first time since the late 80' that this has occurred. Spot freight rates are also dropping. Big retailers are looking for warehouse space to store unsold goods. We all know about the small trucking companies that have popped up in the last few years. Mostly new Canadians. They are bottom feeders that are under financed. Watch for bankruptcies. Even the outfits with say 40 trucks are going to suffer. Price s for used trucks will drop . I could care less for those rinky dink outfits. How will the O/O's in this forum handle the changes? This forum often gets posts from a company driver that wants to buy a truck. Could be bad timing right now.
     
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  3. skallagrime

    skallagrime Road Train Member

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    Vis-a-vis Walmart/target dropping in sales.

    Im not sure thats quite the tolling of the recession bell just yet (it might be the very start, its certainly due at this point) think this way, their sales projections havent dropped since the 80s, but they havent had competition since the 80s either, amazon is the new kid thats been taking their lunch money. I dont know that thats a good thing, probably not, their biz practices are arguably worse than walmart's and likely more dangerous to long term supply chain resilence and certainly to consumer resilience if they ever fail. When we talk about "too big to fail" thats amazon if they manage to put big box retailers out of buisness.
     
  4. Magoo1968

    Magoo1968 Heavy Load Member

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    I know myself and 3 others who quit shopping Walmart because they only open 2 or 3 tills because they want everyone to do self checkout. Sobeys still serves me like I’m a customer I’ll pay the tiny bit extra .
     
  5. xsetra

    xsetra Road Train Member

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    I refuse to self check at any store.
     
  6. Judge

    Judge Road Train Member

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    Yeah, Those self checkouts the cashiers are total jerks.
    Don’t say welcome to store, thanks for shopping, come back again or anything.

    It’s just like going to one of their real cashiers.
     
  7. REALITY098765

    REALITY098765 Road Train Member

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    IMO Walmart wants to close the stores and go all online shopping. Way more profit that way and they are steering people towards that little by little.
     
  8. skallagrime

    skallagrime Road Train Member

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    Not their core competence, amazon is forcing them to do it that way about 10-15 years earlier than they want to
     
  9. Wasted Thyme

    Wasted Thyme Road Train Member

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    I think it's a combo of online and self checkout business model. That both are going for. Eventually, from cameras. You'll be able to just load up your cart and have it automatically deducted when you leave the store.

    I personally like the self checkout. I'm faster and bag things better than the cashier.
     
  10. skallagrime

    skallagrime Road Train Member

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    Im not saying walmart doesnt want to move in that direction, im saying it wasnt probably what they want to do NOW. You have to herd and train customers to do what you want them to, theyve been playing with self-checkout for a long time and its still not as good as it needs to be, moving all online is another big leap yet.

    Amazon customers are self-selecting into that model though and walmart must ramp that up faster than they thought they had to to avoid losing a customer base. But their core competency was being better than kmart at the box store game, scalability and supply chain.

    Theyre a tech-saavy older uncle where amazon is native to the online game
     
  11. Brucesmith

    Brucesmith Heavy Load Member

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    Not using self checkout makes you a ludite. Soon only little corner stores will be the only ones without self checkout . Some people must like it as the lines are usually long.
     
    bryan21384 Thanks this.
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