Radio Shack's problem was that they stopped selling anything you couldn't get elsewhere. They allocated more than half each store to cell phones, which are commodity items available everywhere. When I needed a soldering iron on travel, the selection was paltry compared with the Radio Shack of 20 years ago. But Radio Shack was the only place I could think of to buy one.
As another poster pointed out, electronics hobbyists are not immune to the market forces which push non-service industries like bookstores online. Price is so often king. But there is still room in the market for a service-oriented maker/hobby shop. I've thought for some time that there are areas of the country, primarily cities, where an electronics shop with a collaboration space could do very well. If they could find a way to make the gym model work - long, cheap contracts which aren't worth canceling - it could work out well. It's not a gym, of course, but if you push the education and personal enhancement side of the business, you might be able to achieve the same result.
A company called Techshop just opened a huge subscription-oriented machine shop near my office. The fees are around $100/person/month, and they are paying for a lot of currently empty space in a very expensive DC suburb. There's room for this business model. Radio Shack didn't just miss the boat, they sank their own ship when they switched from being the only place where strange electronic parts were sold, to being another cell phone shop.