The Grim Reaper of retail has come out for stores and it seems he won’t stop until little’s left in his path.
We already know, thanks to Credit Suisse, that one in four malls will close by 2022, or a total of 275 shopping center locations. And the financial services firm has said as many as 8,640 stores will shutter this year alone. As of April, stores’ death toll so far in 2017 was right around 2,880.
Now, according to new research from GetApp Lab, part of Nubera business apps discovery network, most retailers that currently run both online and physical store operations, expect to close up their bricks and exist solely on clicks within the next 10 years.
When asked how likely it was that their business would be fully conducted online in the next decade, 66.1% said it was either likely or very likely. Just 16.7% think the shift is unlikely.
Read more at Sourcing Journal.