A couple of weeks ago, my husband and I browsed around two closing Borders store in Carmel, Indiana (for reference, this is a suburb comparable to Richmond Hill/North York/Markham in Toronto) and in Indy near the Fashion Mall. For Canadians reading this, Borders is the U.S. equivalent of Chapters Indigo. Admittedly, I had not even heard of Borders until my husband and I were trying to find a coffee shop open on New Years day 2010 in Carmel, Indiana (this was one of the stores that was closing). It was sad to see that these types of stores are going out of business. Of course, as we live in the Internet era, it is no surprise that these closures are imminent.
The same story goes for Blockbusters. The one that was closing down was right across the street from the Borders closing in Carmel on 116th Street. With the recession, people just want cheaper rentals (Red Box) or have the convenience of just renting on the Internet (Net Flix). For example, with Red Box, you can rent for $1.00 + tax/day. If you are planning to watch the movie that evening, why pay $4-5 for the movie when you can just pay the $1.07 and return it the next day by 9PM? The rental machines are located outside major supermarket stores - Wal-Mart, Marsh, Kroegers, Gas Stations, etc.