Welcome to my blog series, ‘Ask a Millennnial!’ In this blog series, I talk about what millennials like myself like to do, what we dislike, and for this blog post, what companies we may be killing. 😛 Let’s get started! 🙂
So I came across an article on Business Insider about Toys R Us claiming that millennials such as myself killed their company and that there is a “demographic time bomb” coming upon the United States. We’ll address the millennial thing first. 🙂
The article argues that since because millennials are not having as much children as companies and others would like, that that is the reason why Toys R Us went bust. Their claim: lower toy sales = bankruptcy. But for someone who follows retail news, some of Toys R Us’ executives (17 of them) got a huge cash payment of millions (14 million to be exact) to basically “motivate them” to sell toys a whole lot better. Yup, you read that right. Their already fat salaries weren’t convincing enough to sell toys from a dying company better, so they needed more money! MOOOOOAAAAR! This was going on last year in 2017 when they were getting out of their bankruptcy which in the end didn’t end up saving the company.
With stuff like that happening behind the scenes, I’m basically happy another greedy corporation like Toys R Us went bust. I’m sure pretty much any old mainstream corporation is the same as Toys R Us (Wal-Mart, Amazon, etc.), but when I hear about these backroom deals from a beloved company, it just makes me angry. Of course, all corporations are the same with this kind of stuff, so I just pick my battles on who to get mad at since I shop at some of these businesses that do this stuff. Amazon in particular. I’m not perfect, ya’ll. 😦
Then there is the claim that Amazon, Wal-Mart, and Target also dealt the final blow to the toy store. I have read in another business insider article that Toys R Us couldn’t discount their toys because selling toys was their business unlike these other retailers who sold almost everything else. They just couldn’t afford to discount stuff like those big three companies could. Which is understandable. It looks like Amazon and those other guys killed another department store! 😛 So with these stores selling toys more cheaply than Toys R Us could, why are we blaming millennials again? Because we are so blamable and responsible for bankrupted companies like Toys R Us to make them survive? – raises eye brow –
I’m here to tell you Toys R Us that it is not our fault for not keeping you afloat. Don’t you be blaming us for you not keeping up with changing times and retail trends. You guys sunk your own ship and don’t go blaming the other generations of consumers for not trying to save you either. : |
Now for the demographic time bomb thing… I completely understand why this is starting to happen and it’s fairly obvious. Because of flat wages across the board and seeing how salaries of regular workers, white or blue collared, are not going up and everything else is (such as housing which is needed to put future parents’ children in), you will get a demographic time bomb and like it. Shame on all of these businesses who don’t pay their workers a living wage no matter where they work or how hard they work. This is probably the main reason why millennials and other people are not having children because they simply cannot afford them on the flat wages they make. I feel for everyone in my country who are struggling to get by on any kind of unlivable wage, whether they are working or not. Even in the higher cost of living areas for the people who make a higher wage from their job, but cannot afford to live in the area they work in. It just makes me mad how so many people are suffering in the United States and how they are never receiving a living wage or adequate help that they truly need in each of their circumstances. It is not right and is wrong.
I can go on, but I won’t. 🙂 I think everyone gets the point and I will end it with this: low wages = bankrupt companies that don’t keep up with times and a demographic time bomb. I hope that makes sense to these companies like Toys R Us who don’t keep up with the times and needs of its customers.
And that concludes this blog post of, ‘Ask a Millennial!’ See you next time! 🙂
(And if anyone is interested in reading my ‘Ode to Toys R Us’ blog post, check it out here! 🙂 )
Why do you think Toys R Us died? Did millennials really kill the business?