Demise of Retail
We have all been seeing the decline of retail from American Apparel to Sears and many more, brick and mortar retailers who aren’t transforming the shopping experience and integrating online are failing…and failing in droves. This report from The Business of Fashion shares a grim future for retail with more big brands filing for bankruptcy.
And this article from the Financial Times details the decline of Sears. “Where are we today? Sears is in a death spiral. Malls are dying,” says Scott Rothbort, a professor of finance at Seton Hall University’s Stillman School of Business.
This month, JCPenney announced 138 store closings. In January, Macy’s said it would shutter 68 stores. At Sears and Kmart, the number of stores has fallen from about 3,800 a decade ago to 1,430 at the end of the last fiscal year. This year, another 150 are to close.
Yet on the brighter side , experiential retailers such as Sephora continue to gain momentum. They offer an integrated online and offline experience designed to serve their customers needs best. Super overview from Prophet here.