Over the past decade, import competition and advancements in technology have left some businesses struggling more than others to see the light of profit. A recent analysis from firm IBISWorld ranked the ten most speedily declining of these key trades, each allegedly beyond economic recovery. Yet, when confronted with their demise, these industries responded with an adrenalized trend of innovation.
Facing the adverse conditions of this economic environment, businesses and university departments in the community have begun to shift the directions of their commerce. Alisha Patrick, shift leader of Blockbuster’s Glenwood Avenue location and a four-year employee of the company, has witnessed the effects of competition from services like Netflix and Redbox on the DVD and game rental industry.
“I would say I’d seen a little decline since Redbox came out,” Patrick said, “but a lot of our customers have definitely stuck with us.”- Possibly due to the recent changes that Dish Network implemented in the company after purchasing it.
“They actually lowered all of our prices; the most expensive thing now is $2.99.” The company has also made its rentals available through the mail and instant streaming, and through an agreement with Time Warner is able to release many films nearly a month before any other service, namely a 28 day lead.
“Harry Potter and the Deathly Hallows Part I was a big one for us; nobody else had it, and we were sold out within hours of opening the store.” The big push to entice customers both new and old is the foundation of Blockbuster’s model for revival. “Hopefully Dish Network will take us in a new and better direction.
Similarly at local School Kid’s Records, much of the sales volume comes from the loyal pockets of regular customers.
“We’ve been on Hillsborough Street for about 30 years,” Eric Tschudi, assistant manager said. “We have a lot of regulars. We’ve built a rapport with customers, and the city of Raleigh in general.”
“We sell a good bit of new and used CD’s and new and used vinyl,” Tschudi said, accounting for the movement of $1,000 to $2,000 worth of music every day.
“Recently,” Tschudi included, “vinyl has been outnumbering our CD sales. Vinyl in general has become more popular, and more of a go-to for all generations.” And so the record store not only defies the statistics of major decline by its reputation in the community, but also by making the greatest profit off of the most ‘outdated’ mode of audio on its shelves.
On his own taste in music consumption, Tschudi said, “Just like anyone else I download stuff. But when it’s something I like, I like buying it on vinyl; it’s more of just an actual experience.”
Another traditional institution defying its apparent economic expiration date is that of textiles; though the value of domestic mills and their workers has been negated by growing labor costs, utilities expenses and the strict observance of EPA standards, the N.C. State Textile College maintains its prestigious status.
“We’re the only [independent] college of textiles left in the country, and maybe the best in the world,” Kent Hester, Director of Career Services for the college, said. A graduate of the college himself, Hester remembers the days when manufacturing dominated the textile field.
“Less than 5 percent of graduates go into manufacturing now; it used to be over 95 percent. One or two companies would come in and hire the entire class.”
However, according to Hester, even today there is little concern regarding career opportunities for students of the college.
Though the production of commodity items, like t-shirts and socks has gone overseas, Hester said, “What’s still here in the U.S. are a lot of specialty, high-tech items.”
From medical applications such as artificial arteries or synthesized synovial fluid, to fashion design or the SMART Textiles that can not only locate and communicate, but also clothe our entire military, N.C. State is leading the world in creative, ergonomic innovation.
“We require our student to learn the science behind all of the materials they deal with,” Hester said. According to Hester, students must also master design, marketing, Six-Sigma and supply-chain logistics, providing them with a myriad of skills applicable to any job setting. Despite the low overt demand for textile positions in the work force, the college has consistently placed more than 90 percent of its graduates into textile-related jobs and is already at 96 percent placement for the class of 2011.
“Overall, I think there’s a lot to be optimistic about,” Hester said.
