It is predicted that the retail industry will suffer more closers than ever this year. The largest number of retail closures was in 2008 when 6,163 stores closed, but this year the number of retail closings have far passed that number. If stores start to close as fast as the sources are predicting, then more than 147 million square feet of retail space will be lost. In February JCPenny closed several stores, last month Staples followed suit, this week Bebe closed, and Macy's has announced they are closing around 68 locations. Online websites like Amazon have eclipsed physical store fronts leaving several malls deserted.
Personally I love going to the mall, but I have also followed the trend of ordering clothing online. It is much easier to order online rather than having to fit a mall trip into my already busy schedule. Online shopping offers many perks you don't receive in stores like free shipping, and buy one get one free deals. It is sad that so many stores are closing, but it is a sign of how the world is evolving to be a more technologically based economy.
http://money.cnn.com/2017/04/22/news/credit-suisse-retail/index.html
I agree with you that online shopping has many perks, and it is very helpful if you can't find the time to take a trip to the mall
ReplyDeleteWhile it's smart to shop online, many people lose their jobs from this and most people live off those jobs which is very unfortunate for them.
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