The Retail Apocalypse is Still in ‘Early Innings’ — Thousands More Stores Will Close Before It Ends

In The Daily Scoop by Lauren Parker, Accessories Magazine

The American retail industry has been rocked by record-high store closures, dozens of high-profile bankruptcies, and the death of hundreds of shopping malls over the last several years.

But the amount of retail space in the US still far outweighs other countries, which suggests that we are only in the “early innings” of mass store closures, according to data compiled by the advisory firm Cowen and Company.

The US has about 23.5 square feet of retail space per capita, compared to 16.8 square feet of retail space per capita in Canada, and 11.2 square feet of retail space per capita in Australia, according to the report.

Read more at Business Insider

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