Retail is Dying steemCreated with Sketch.

in #deathofretail5 years ago

Previously written an article about the dire state of Sears Holdings and their desperate attempt to stay relevant by integrating bitcoin payment, and a tweet about Amazon replacing physical retail.

Finally UBS released their findings about physical global retail stores.

UBS now expects some 75,000 stores that sell clothing, electronics and furniture to close by 2026

Retail companies have found it difficult to remain profitable, especially in the last few years, since the popularity and convenience of e-commerce boomed. The increasing rental fees of physical stores, labour costs, and declining economy have these companies seeking other alternatives.

Reducing the number physical stores and adopting a more e-commerce approach are good ways to streamline businesses in today's context.

these stores will be smaller and hold less inventory. They will mostly function as physical showrooms for customers to try the products before buying them online.

Big retail like Macy's, Nordstrom, JC Penny, Gap, etc. have been struggling in recent years (see 5-year stock prices below).

Many of these big and small retail players alike are laded with huge debts ($100M-$10Billions !!!) and falling revenue, forced to file for bankruptcy.

Tough times all around. Especially 2019/2020 when the economy is stagnating/failing. The governments would be hard pressed to find solutions to this, while trying to avoid a slippery slope.

Find the full article here.

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