Over its nearly 30-year history, Witmark dominated the jewelry market with an average of a 34% market share. The organization made it a point to develop and keep close ties with the communities the stores served.
By the early 1990s, Witmark's earnings began to decrease due to continued involvement in unprofitable categories outside of jewelry. Big box stores such as Best Buy, Circuit City, Toys "R" Us, Dick's Sporting Goods, and MC Sports captured the electronics, toy, and sports markets respectively and more effectively than Witmark could.
In 1996, Witmark experienced its fourth consecutive year of declining sales and earnings, and the company announced changes to its operating strategy. Unfortunately, vast barriers—such as long-term leases on real estate—limited the company's ability to adapt to the changing business climate. The following year, Witmark liquidated its assets and laid off its 700+ employees. Like the larger national chains of catalog showrooms (such as Best Products), the retail concept collapsed in the late 1990s due to overwhelming competition from big box stores and Internet shopping.
Image gallery
The Plainfield Township, MI Witmark Catalog Showroom. Opened 1969, demolished 2021.
Tandy Corporation was an American family-owned retailer based in Fort Worth, Texas that made leather goods, operated the RadioShack chain, and later built personal computers.
Future Shop was a Canadian electronics store chain. It was established in 1982 by Hassan Khosrowshahi. By 1990, the chain had become the country's largest retailer of computer and consumer electronics. In October 2012, the company operated 149 locations across Canada.
Best Buy Co., Inc. is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota. Originally founded by Richard M. Schulze and James Wheeler in 1966 as an audio specialty store called Sound of Music, it was rebranded under its current name with an emphasis on consumer electronics in 1983.
Eckerd Corporation was an American pharmacy retail chain that was headquartered in Largo, Florida, and toward the end of its life, in Warwick, Rhode Island. At its peak, Eckerd was the second-largest pharmacy chain in the United States, with approximately 2,802 stores in 23 states as far west as Arizona.
Caldor, Inc. was a discount department store chain founded in 1951 by husband and wife Carl and Dorothy Bennett. Referred to by many as "the Bloomingdale's of discounting," Caldor grew from a second story "Walk-Up-&-Save" operation in Port Chester, New York, into a regional retailing giant. Its stores were earning over $1 billion in sales by the time Carl Bennett retired in 1985, by which time Caldor was a subsidiary of Associated Dry Goods.
Consumers Distributing was a catalogue store in Canada and the United States that operated from 1957 to 1996. At its peak, the company operated 243 outlets in Canada and 217 in the United States; these included stores in every province in Canada and in the states of New Hampshire, Massachusetts, Connecticut, New York, New Jersey, Pennsylvania, Maryland, California and Nevada.
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Best Products Company, Inc., or simply Best, was a chain of American catalog showroom retail stores founded by Sydney and Frances Lewis in 1957 and formerly headquartered in Richmond, Virginia. The company was in existence for four decades before closing all of their stores by February 1997 and completely liquidating by December 1998. At the time of their second bankruptcy filing in September 1996, the company operated 169 Best stores and 11 Best Jewelry stores in 23 states, as well as a nationwide mail-order service. When in operation, Best Products was traded on the NASDAQ exchange as "BESTQ".
Service Merchandise was a retail chain of catalog showrooms carrying jewelry, toys, sporting goods and electronics. The company, which first began in 1934 as a five-and-dime store, was in existence for 68 years before ceasing operations in 2002.
The Musicland Group, Inc. was an entertainment company that ran Musicland, Sam Goody, Discount Records, Suncoast Motion Picture Company, On Cue, and the Media Play Superstore Chains. The Musicland Group was purchased by Best Buy in 2001 at the height of Musicland's success, which ultimately led to its demise. Jack Eugster was the CEO of The Musicland Group, from 1980, until February 2001. Its headquarters were in Minnetonka, Minnesota.
A catalog merchant is a form of retailing. The typical merchant sells a wide variety of household and personal products, with many emphasizing jewelry. Unlike a self-serve retail store, most of the items are not displayed; customers select the products from printed catalogs in the store and fill out an order form. The order is brought to the sales counter, where a clerk retrieves the items from the warehouse area to a payment and checkout station.
Fred Meyer Jewelers is a national chain of jewelers. It is a owned by Fred Meyer. A subsidiary of Kroger. The company also formerly operated under the name Littman Jewelers.
Brendle's was a chain of catalog showrooms based in Elkin, North Carolina, USA. Its showrooms carried jewelry, toys, sporting goods, and electronics. At its peak in 1990, Brendle's operated 58 showrooms in North Carolina, South Carolina, Virginia, Georgia, and Tennessee.
Valu-Mart was a chain of discount stores founded in Seattle in 1958. Its parent company was Weisfield's Jewelers. For many years Weisfield's was a store that carried jewelry, as well as televisions, radios, stereos, and other consumer electronics products. Once Valu-Mart was put into place, Weisfield's strictly became a jewelry store. The chain also had stores in Oregon, where they originally were named Villa-Mart. Separate grocery sections in the stores featured curbside grocery pickup by placing the grocery bags into numbered bins that rolled onto a conveyor allowing the customer to drive up to the front of the store to pick them up by giving the attendant a plastic card with the numbered bin they used. The groceries were then loaded into the car usually by store employees.
K's Merchandise Mart, Inc. was a catalog showroom department store based in Decatur, Illinois. It offered furniture, jewelry, and general merchandise, including electronics, at 17 locations in 5 Midwestern states at the time of its closing.
FuncoLand was an American video game retailer based in Eden Prairie, Minnesota, that specialized in selling new and used video game software. It is considered the first major video game retailer to allow consumers to sell and trade used video games. The chain's parent company Funco Inc. was established in the home of David R. Pomije in 1988, initially as a leaser of video games to video stores, and then as a mail-order business specializing in used video games. Upon the success of this venture, Pomije moved Funco to a Minneapolis warehouse, and began opening FuncoLand retail outlets nationwide.
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