/ (polynucleotide) wrote in ohnotheydidnt,
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polynucleotide
ohnotheydidnt

The retail apocalypse is here


Things in the retail world keep getting bleaker.

Retail tracker and research firm Coresight Research expects 20,000-25,000 retail stores will close by the end of 2020, over double the record-breaking 9,300 store closing that happened last year. 4,000 stores have closed permanently over the past 5 months.

Coresight states the large number is due to consumer demand, confidence, and spending stalling, and staying that way "for some time." A report from a separate firm believes pre-covid retail sales numbers won't return until 2022 (but expects e-commerce to surge).

Here's a list of what's already been announced to be going:
Read more...Collapse )

Source
Tags: covid-19, fashion
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