Greetings everyone and welcome to my PowerPoint on Bitlops. This company is a well-known retail store that is having financial troubles in 2025. In my presentation, I will go over their decline, backstory, and some innovative products that can maybe boost their profitability. But before we go over their history,.
Let’s discuss why this is a relative topic to talk about today’s in industry is currently having major a major transformation. There are changes in shoppers behaviors, marketing and the rise of AI in today’s industry. A shocking fact is that the companies that were doing very well once before are now doing their best to stay.
Afloat. Will they survive or fade away? This is what I’m going to go over. Bitlock opened their doors in 1967 in Columbus, Ohio as Consolidated Stores Corporation. Currently, they have over 1,400 stores across the country selling seasonal merchandise, furniture, and electronics. Biglocks is known for purchasing overstock items and selling.
Them at a friendly price. Their national presence is catered to the middle class, bargain shoppers, and people wanting seasonal furniture. Big Lot’s niche was easy to understand. sell name brand merch at a discounted rate. But in the current customers wants to save more, buy from ethnical sourcing methods and online.
Reliability. Unfortunately, Bitlocks hasn’t had much success embracing the changes which has caused their struggles. Already having major success, Biglocks has been struggling in the past years. And here’s why. E-commerce boom. Customers behavior have changed a lot from onsite shopping to online shopping. Rising.
Costs, costs of labor, inflation, and interest rates went up severely. Overexpansion. Due to having too many stores, most are unable to reach their sales goals. Competitive pressures. Bigger companies like Walmart and Amazon have similar goods at lower.
Prices. Companies like Walmart and Amazon has already improved their logistics and catered their online experience for customers. Amazon, for example, used predictive analytics to offer a more personal shopping experience. Walmart invested more in their instore pickup and allowing their inventory to be more.
Visible. However, Biglocks has depended Biglocks is still dependent on instore shopping. This failure of adapting has cost them their customer loyalty. In 2025, across the nation, we are noticing a lot more bankruptcies and stores are closing their doors due to failing to adapt to digital.
Trends. AI, smart technology and sustainability is today’s driving force in attracting more customers. Customer companies that do not adapt to the new trends risk becoming obsolete. It is estimated that more than 50 companies are expected to shut down several stores in 2025 due to the lack.
Of digital integration. A report study noticed that over 70% of customers stated that they’ll change their normal habits to help change their eco impact. This shows why planning ahead of the trends is important for Big Lots growth. I suggest the launch of ecofriendly home.
Essentials. A product chain that has suitable items like eco-friendly furniture, eco-friendly bedroom essentials, and eco-friendly kitchen essentials. For the target market I it will be for shoppers in the age group age range 25 to 40 who are gold green supporters. For the marketing.
Strategy all ads on social media increasing partnerships display more information on green living. These essentials are not just to provide big lots a chance for an increase. This helps the company create and f foster an emotional relationship with their customers and the earth. Picture a customer coming into the store to.
Purchase a table and learn that it was created by reclaimed wood. This will give each item a story and a purpose. Another product is a smart home starter kit that has items for home security cameras that can connect to Amazon AI and Google AI. For the target market, it will be age groups from 30 to 55 homeowners.
Marketing strategy. Post how-to videos on social media and store hands-on example and partnerships with bloggers. This is very This is a very thoughtful product. This smart home tech allows a major field of safety and saves energy. Most customers don’t understand how smart tech can cut back usage of power by turning off idle devices.
Or that smart home tech can deter crime from occurring to them and their homes. Here are the numbers dependent on the raising demand of suitable products and betlocks ability to go against their competitors by using eco-friendly products for sales. In year one, the total will be $50,000 for the unit values. And what the cost per unit sold.
Will be $120. And the gross sales would be $2,500,000. The cost of goods sold at $1,500,000. the net sales of $1 million. For year two, it would be 60,000 for the unit value with the same for the cost per unit sold. But with the gross sales,.
It’ll be $3 million. And for the cost of goods sold, it will be $1,800. the net sale of $1,200. For the second product, it will be for year one, it will be 3,000 for the unit values. And for the unit for the cost per unit sold would be $240 and the gross sales would be $3.
Million. The cost of goods sold would be $1,800, giving us a net sales of $1,200. For the second year, it will be $40,000 for the value unit value, the cost per goods being the same, and giving us a gross sales of $4 million. And the cost of goods sold would be $2,400,000 with a net sale sales of $1,600. In conclusion, Bitlocks can.
Change their brand to better align with the current customers culture and values. These two products are not only to plug the gaps in the market but also capitalize on their strengths in retail. If the market strategy is done correctly and good sourcings good sourcing are implemented correctly. This will increase their profit and bring new.
Customers and help the company remain competitive. This presentation isn’t only about selling things. It’s about reshaping the market and customers behaviors. Bitlocks can change from being viewed as a discount store to a forward thinking retailing chain that values modern goods. I suggest a performing a test in a few regions.
Followed with a larger scale lunch.
