Monday, April 22, 2019

Setting the record straight on the state of retail and store closures

It’s no secret that the retail industry is evolving rapidly due to shifting consumer preferences and new technologies. But the truth is, retail has always been in a constant state of change, and throughout all the industry’s twists and turns over the past several decades, retailers have evolved and thrived.

It’s important to look at the big picture. Retail contributes $2.6 trillion to annual GDP and drives the nation’s economy, but for years, we’ve seen sensationalist headlines about a so-called “retail apocalypse.” The latest wave of coverage was sparked by a UBS report projecting that retailers must close 75,000 stores by 2026 due to ecommerce. . . . more