Sears has been a household name for over a hundred years. Just about everyone in America has purchased something from Sears at some point in their life. It could be blue jeans, Carrhart work clothes, a dress suit, tools, appliances, bedding, cookware, or pretty much anything one could possibly need for the home. The mechanic, carpenter, electrician, or home owner doing some remodeling can find whatever tool they need to get the job done. Sears has been the one stop shop for households for decades.
Sears didn't become a household name by sitting still and watching the world change and evolve around them. One of the biggest changes to our world has been the advent of the Internet. The impact of the Internet is right in line with electricity, the internal combustion engine, and flight. Communication has changed radically because of the Internet. No longer is a person's reach confined to the city or town they live in. At one time, if a person wanted to by a circular saw, they either went to Sears, ACE Hardware, or the local home center. Now consumers" options are wide open. Just logging on literally opens up the world as a huge virtual shopping mall where a consumer can find all the options available at the best price and then have the saw shipped right to their door. We now have a global market place, and its easiest access is the Internet.
During the Internet's early life, there were hundreds if not thousands of business ventures based entirely on the Internet for there presence. Rather than having a building with a glass store front, sales people, and spacious showrooms, companies could have a virtual showroom. This drastically cut costs greatly improving the profit margin. Many of these ventures failed for a variety of reasons. On the other hand, many have done very well. New companies that are strictly virtual have the burden of getting their name out there. There is no physical presence so there is nothing to drive by and notice.