MASSIVE STORE CLOSURE: TOP 13 RETAILERS AFFECTED
2017 has witnessed a massive closure of stores by top retailers in the United States of America and in Europe. It is a situation that is not particular to the U.S. alone; it is a global retail trend, perhaps. Even in less developed countries, there are incidences of massive store closure leading to loss of jobs and a decline in economic activities in places largely affected. Could this be anything other than a retail trend? Is it a retail business cycle situation that may change for the better anytime soon? What could be responsible for this negative trend in the global retail sector? Are there answers? Yes. There are likely causes. These may include a change in customer behavior and preference for e-commerce above brick-and-mortar stores; high cost of rent; the present economic recession; decline in sales and many others. According to anETRetail.com online publication on June 2nd, 2017, here are 13 top retailers who have announced the closure of their stores since ...