Another CEO goes down as Radio Shack fires Jim Gooch after just 16 months on the job. We’ll never know if Gooch was an ineffective leader or if he needed more time to revive the nearly dead Radio Shack brand.
What matters is that Radio Shack needs a complete rebrand more than any other American retailer.
The retailer needs to start over. It must pinpoint what it offers that is different from its competition and align itself with the most emotional currents in the market. That’s how preference is created.
At the moment, Radio Shack stores make no sense. The shops resemble the inside of a garage with electronic parts up sharing wall space with cell phones.
The basic questions for Radio Shack are: What is it? What does it aspire to be? Who is the Radio Shack customer?
There is opportunity here, but it won’t remain for long. Every day that Radio Shack stands still is another day that equity evaporates and the path to relevance is more difficult.
Note to the new CEO: Don’t cling to outdated ideas. The attempt to go to “The Shack” was an attempt to hang onto a sacred cow that had no meaning.
Change. And do it now.