Harry Cummins
Updated on: October 14, 2024 3:53 am GMT
In a dramatic conclusion to a storied retail era, the last full-size Kmart store on the mainland United States will shut its doors for good on October 20. The closure of the store in Bridgehampton, New York, marks a poignant end to a retail chain that once boasted over 2,300 locations across the country.
Historic Decline of Kmart
Once a giant in the discount retail industry, Kmart has been slowly vanishing from the American shopping landscape. This original full-size store, located in the upscale Hamptons community, has been a part of Kmart’s rich history since it opened in 1996. It became a popular shopping destination, not just for locals but also for notable figures like Martha Stewart, who partnered with Kmart to launch her “Martha Stewart Everyday Line” in the late 1990s.
Despite early successes, the store is now emblematic of Kmart’s broader struggles against fierce competition from giants like Walmart and Target, as well as the rise of online shopping. As recently as a few years ago, the Bridgehampton Kmart was thriving, significantly due to the lack of nearby competitors. However, with the nearest Walmart and Target located over 20 miles away, the supermarket landscape has changed, leading to dwindling foot traffic and inventory issues.
Roots and Expansion
Kmart’s origins date back to 1899, when Sebastian Spering Kresge opened his first five-and-dime store in Detroit, Michigan. The Kmart chain itself emerged in 1962 when the company rebranded and expanded rapidly. By the late 1990s, Kmart employed around 350,000 people and had grown to be one of the largest retailers in the country.
- Key Milestones:
– 1899: Kresge opened his first store in Detroit.
– 1962: The first official Kmart opened in Garden City, Michigan.
– 1990s: Kmart peaked with over 2,300 stores nationwide.
– 2002: Kmart filed for bankruptcy, merging with Sears in 2005.
However, the once-prominent chain’s fortunes turned when it faced leadership changes and aggressive cost-cutting under hedge fund manager Eddie Lampert, who took control of Kmart in 2003. Despite initial optimism, management missteps and fierce competition led the store’s decline. Following the merger with Sears and eventual bankruptcy filing in 2018, the writing was on the wall for Kmart.
The Closing of an Icon
The final store in Bridgehampton has increasingly come to symbolize the chain’s struggles, with reports of empty shelves and decreased customer patronage. Recent years have seen the company close locations across the U.S., with the last full-sized store now facing its final days.
While there is still a smaller Kmart in Miami, Florida, it operates more like a convenience store, greatly scaled down from the full-size experience Kmart once offered. The Bridgehampton location was about 90,000 square feet, but the Miami store does not have the same offerings and, today, feels worlds apart from what Kmart was known for.
Amidst this decline, Kmart does continue to operate a few stores outside the 50 states. Locations in the US Virgin Islands and Guam will remain open for the time being.
Legacy of Kmart
Kmart was once synonymous with discount shopping and customer engagement, famous for its “blue light specials” that attracted shoppers with limited-time sales. This promotional tactic captured much of the market’s attention from the 1960s through the early 1990s. However, despite attempts to revive this iconic strategy, the brand never regained its former glory.
It’s a stark reminder of how consumer behavior and retail landscapes can shift dramatically. Kmart’s legacy will likely live on in the memories of its former loyal customers, who remember what it offered and what it once meant to their communities.
As the last full-size Kmart prepares for its closure, questions remain about what will happen to the vast space it occupied. The current owner of the property, Kimco Realty Corp, which leases the space to Kmart, has yet to announce future plans for the location.
Conclusion
The impending closure of Kmart’s Bridgehampton store is not just about a retail outlet shutting down; it signifies the end of an era for a once-dominant player in the discount retail market. With multiple factors leading to its decline— including fierce competition and shifts in shopping behavior—the chain has become a case study in retail evolution.
As Kmart becomes a thing of the past, people will still look for good deals and fun shopping experiences in new stores. But the memories of Kmart’s blue light specials and low prices will always be a part of American shopping history. When we think about Kmart now, it reminds us of how important it once was to our everyday lives.
