In May of 2017, Toys ‘R’ Us announced a $100 million infusion to re-establish its e-commerce platform. But they acted too late, and only four months later, the company filed for bankruptcy. Like Borders, Kodak, Blockbuster and other well-run businesses with well-respected brands, Toys ‘R’ Us once dominated its market, before being disrupted by innovation. Failing to adapt to a changing world, dropped them out of prominence.
Barrington has held a great reputation for decades, but if we keep doing what we’ve always done and we keep being only what we’ve been, we will fall from prominence.
Businesses, whether new or old, need different support in today’s economy. It takes more than friendly service - though that’s critical - and name recognition to continue pulling in customers and clients. Today’s shoppers have information at their fingertips and it takes something extra to compete in the sharing, and on-demand economies.
Residents, young and old, face challenges now that did not exist for prior generations. Our youth have more need for social interaction and outdoor, physical activity, but more options to avoid it. Our families are worn more thing that years past, with increases in two-working-parent families, telecommuting and constant connectedness. The senior population is growing and more active than prior generations.
The new challenges we face are not yet solved. Our leaders need more than common sense to create more than common outcomes. Fresh perspectives and innovation will carry forward our success, and proactively achieve an even better Barrington.