Retail Apocalypse: 75,000 More U.S. Stores Could Be Doomed
April 10th, 2019Via: LMT Online:
Widespread closures have roiled the retail industry, but many more stores are likely to shut down in coming years to keep up with a shift to online shopping, according to a report by investment firm UBS.
An estimated 75,000 stores that sell clothing, electronics and furniture will close by 2026, when online shopping is expected to make up 25% of retail sales, according to UBS. Roughly 16% of overall sales are made online.
Analysts said the closures would affect a broad variety of retailers, affecting an estimated 21,000 apparel stores, 10,000 consumer electronics stores and 8,000 home furnishing stores.
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