According to Business Insider:
12/23/2019: 9,300 retail stores in 2019 and another 75,000 stores could be lost by 2026.
Why? US Consumers are shopping differently:
1. Consumers’ demand efficiency. Men certainly don’t, and now women are not “browsing” anymore.
2. There are 1300 malls in the United States, some studies suggest we only need 300 to 400.
3. Retail space is expensive. Rents are high. Labor is transient and costly.
4. Consumers wait for the sale. They show up for the deep end of season discounts.
5. Inventory (that will have to be sold months later at a deep discount) is very expensive.
6. Merchandize is often pedestrian – uninspired and lackluster
7. Clothes don’t fit. Literally. 68% of U.S. women are size 14 and over, designer sizes in “better” stores carry size 0 to 12, and for men, clothing “fits” vary wildly by make and guys just don’t have the patience.
If you work in retail and have an interest in selling clothing via a high tech “disruptor” company that does not rely on brick and mortar, taking a look at J.Hilburn and I as a “start off part-time” option may be a good consideration. I am an Independent Stylist, I own and drive my own business, and prefer it that way.
And be sure to drop me a note that you checked in. My job is to help new Stylists succeed. https://annlindsay.jhstylist.com/