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How Big Government Bankrupted RadioShack

As a former sales associate for RadioShack, I was very saddened when I heard the news that the company was filing for bankruptcy. In my mind and being a lifelong connoisseur of technology, RadioShack has always been a shining beacon of innovation, intelligence, and expertise. It was always the one-stop-shop for DIY projects, cool Christmas toys such as remote control cars, as well as other funky gadgets. Their slide from the go-to local electronics store to “RadioShack is still around?” has been an upsetting departure from their once burgeoning grandeur.

It is for the reasons aforementioned that RadioShack lost their edge. In order to survive and remain competitive in the market, one has to innovate and adapt to growing consumer demands. Our key item of sale at RadioShack were cell phones. If we weren’t selling phones, we weren’t making money. RadioShack price matches with other stores, thereby offering the lowest prices guaranteed on cell phones. Yet for some odd reason, RadioShack never advertised this. They would waste money on commercials to advertise batteries (which you can get for a fraction of the price at the grocery store) instead of promoting their awesome cell phone deals. While I was still working for the company, I had to make up for this by actively making our customers aware of our great deals and encouraging them to tell their family and friends.

However this alone shouldn’t be reason enough for a Fortune 500 company worth $3 billion to file for bankruptcy. In 2013, RadioShack unveiled their new concept store in Fort Worth, Texas, charting a new beginning for the company. The revamped store gave it a retro, customer-friendly appearance, with the emphasis finally being placed on their high-end gadgets. Their new catch phrase became “RadioShack: Let’s Play”, encouraging customers to come try out the headphones, speakers, cell phones, and tablets sold. A number of prototype concept stores began opening up in New York, New Jersey, and Texas.

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