Online stores are dominating the retail game. Brick and mortar stores keep on closing, and according to experts, the trend isn’t slowing down anytime soon.
According to Yahoo.com, Coresight Research says more than 7,000 stores are slated to close its doors this year with thousands of locations already gone. The record year for closings was 2017, with 8,139 shuttered stores, and they expect the closings to continue into future years.
USB analysts predict that 75,000 more stores will need to be closed by 2026 if e-commerce continues to gain traction, jumping from its current level of 16 percent up to 25 percent. Stores that have recently closed many locations include Payless ShoeSource, Gymboree/Crazy 8, Dressbarn, and Charlotte Russe.