At the end of March 2020, the world of retail was struggling in ways it has never struggled before.
We’ve talked before on this blog about the general impression that brick-and-mortar retail is dying a slow death and why that simply isn’t true.
All it takes is a quick Google search of “retailers closing” to discover news story after news story about retail chains large and small experiencing shrinking sales and closing locations. Yes, big chains like Macy’s, JCPenney, Sears/Kmart, Payless ShoeSource, and others have been shuttering stores. Some analysts and journalists have dubbed the last few years the “retailpocalypse” and are actively predicting the demise of brick-and-mortar retail. But is retail dying? Let’s look at some of the reasons behind recent store closures to accurately answer that question.