Written by Jess Huang, Sajal Kohli, and Shruti Lal
In light of the large-scale forces disrupting the US retail industry, once-optional moves have become imperatives.
Much has been made lately of the “retail apocalypse,” with headline after headline declaring the demise of retail as we know it. Yes, store closures have indeed outpaced store openings across the US market in recent years. And, yes, retail foot traffic in both mall stores and stand-alone stores has been, and continues to be, on a downward trajectory. It’s also true that the retail landscape is littered with bankruptcies—upward of 40 in the past two and a half years in North America alone, with more looming on the horizon.
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