Wednesday, April 17, 2019

Retail expert: UBS store closing misleading, ignores industry trends

Chain Store Age
The recent headline-making report by UBS projecting that retailers must close 75,000 stores by 2026 due to e-commerce is misleading and ignores key industry trends.

At least that’s the viewpoint of Greg Buzek, retail analyst, IHL Group, which has predicted that online will be 25% of the total retail market by 2021, but that 80% of all of retail will still have a store fulfillment component. The firm said it took a hard look at the math and research behind the UBS report, which is heavily reliant on U.S. Retail Census data, and found it painted a misleading picture of the industry.. . . more