WEB Notes: As a matter of fact 2017 just set the record for all-time store closings. Meanwhile online “Black Friday” sales hit record highs. So we continue to see the trend to move away from brick and mortar stores, something we have been talking about for years now. This trend will continue, especially in the age of two day shipping with steep discounts. What will this mean for a world of local retail and brick and mortar stores who provide jobs to local communities?…
It means they will close. It means we will have a consolidation in the retail work force at a future point in time where major warehouse hubs are the employers for retail. We live in a rapidly changing world on every single level you can think of.
Some of the United States’ most prominent retailers are shuttering stores this year amid sagging sales in the troubled sector.
The rise of ecommerce outlets like Amazon (AMZN) has made it harder for traditional retailers to attract customers to their stores and forced companies to change their sales strategies. Many companies have turned to sales promotions and increased digital efforts to lure shoppers while shutting down brick-and-mortar locations.