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Store closures reached a new high in 2019 - Business Insider - Business Insider

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While 2019 saw a record number of store closures, some retailers are giving stores new value by using them to facilitate e-commerce orders:

A handful of retailers accounted for many of the shuttered stores, but the closures expand well beyond them. Payless' of 2,100 US stores led the industry, and its closures, along with those from Ascena Retail, Gymboree, Fred's, and Charlotte Russe, accounted for approximately 51% of US store closures last year.

The rise of e-commerce is likely partially responsible for the surge in store closures, but retailers can potentially save their stores and boost their overall sales by updating their locations with e-commerce in mind.

 

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Retailers can follow Walmart & Target that embraced buy online including pickup in-store offerings for consumers to pick up their orders.

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