The prophets called 2017 the year of the Retail Apocalypse, the end of brick-and-mortar stores as we know them.
And it happened, just like they said. More than 6,700 stores closed across the United States, surpassing the worst meltdown for storefronts since the Great Recession a decade earlier.
There should be plenty of real estate available since online stores have thinned out the competition for storefronts. Have you tried to find a Sears or Kmart lately?
The doomsayers saw it coming years ago. Retailers like J.C. Penny, RadioShack, and Macy’s closed shops; others like Payless and Sports Authority cashed out or filed for bankruptcy.
Elephant in the Room
“You don’t have to possess a highly functioning crystal ball to see that one key to unlocking major growth in certain large product categories will require a substantial brick-and-mortar footprint,” he says.
Dennis says customers still want to touch some products before buying them, and drones can’t deliver very large items. Groceries, prepared foods, luxury fashion, home improvement products, for example, have a “much lower ecommerce share.”
Elephants, too. Just saying.
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