Part 6/12:
The decline of PV Mart was not solely a business failure but a symptom of broader market shifts. As giants encroached upon niches once served by regional retailers, local customers shifted their spending to larger stores offering lower prices and broader selections. The challenge of matching the scale and supply chain efficiencies of corporations like Canadian Tire or Home Depot was insurmountable for a midsize regional chain under sustained economic pressure.
Many consumers admitted to shopping less frequently at PV Mart, perceiving it as more expensive than competitors or simply opting for more convenient or cheaper online options. This "march with their feet" ultimately drained the company's revenue, accelerating its decline.