It’s a real bloodbath out there in the world of retail, an apocalypse for malls and shopping centers across the United States. And it is only getting worse.
Coresight Research published new data that found 4,810 store closures have been announced by retailers so far this year – we’re only in the third month of 2019!
Meanwhile, according to Coresight, there have been a little more than 2,200 store openings this year, including by popular brands Indochino, Ultra Beauty, and Peloton.
“I think the store rationalization will continue. We are still over-stored,” Marie Driscoll, managing director of luxury and fashion for Coresight, said. “But in some places — the A malls — people are panting to get into those locations. So it’s all a question of where you are and what you’re paying to be there. But the overall, secular trend is still for store rationalization.”
The warning from some of the nation’s biggest mall owners: more retail bankruptcies are coming.
Even Amazon isn’t immune from the brick-and-mortar illness as the online retail juggernaut announced it was shutting down all of its 87 pop-up shops in Whole Foods locations.
The US is a police state now. Americans should be out in the streets with pitchforks and torches, but instead they would rather shut up, cover their ears, and put their heads in the sand.
Weird.
Anyone with a little bit of common sense could of seen the MALL real estate problem coming. You cannot compete in retail with high rents, that is why so many sellers have moved to the internet.