retail apocalypse

File:Closed Grocery Store in Port Charlotte.jpg]]

The phrase "retail apocalypse" first appeared in print in an early 1990s essay by Peter Glen, author of It's Not My Department!{{cite book |last1=Glen |first1=Peter |title=Ten Years of Peter Glen |date=1994 |publisher=ST Publications |page=125 |isbn=9780944094037 |url=https://books.google.com/books?id=TIyWTu5TAr0C&q=%22retail+apocalypse%22 |access-date=18 August 2022 |archive-date=11 February 2023 |archive-url=https://web.archive.org/web/20230211105621/https://books.google.com/books?id=TIyWTu5TAr0C&q=%22retail+apocalypse%22 |url-status=live }} Media appropriated the term to refer to multiple brick-and-mortar store closures resulting from shifts in consumer spending.{{cite web |last1=Bernstein |first1=Corinne |title=retail apocalypse |url=https://www.techtarget.com/whatis/definition/retail-apocalypse |website=whatis.com |publisher=Tech Target |access-date=18 August 2022 |archive-date=18 May 2022 |archive-url=https://web.archive.org/web/20220518222718/https://www.techtarget.com/whatis/definition/retail-apocalypse |url-status=live }}

Since at least the 2008 financial crisis, various economic factors have resulted in the closing of many stores in North America, the United Kingdom, and Australia, particularly in the department store industry. For example, Sears Holdings had more than 3,500 stores and 355,000 employees in 2006.{{Cite web|url=https://www.cnbc.com/2018/10/12/timeline-the-rise-and-fall-of-sears.html|title=Timeline: The rise and fall of Sears|last1=Thomas|first1=Lauren|last2=Kopecki|first2=Dawn|last3=Schoen|first3=John W.|date=2018-10-12|website=CNBC|access-date=2019-09-03|archive-date=25 September 2024|archive-url=https://web.archive.org/web/20240925031223/https://www.cnbc.com/2018/10/12/timeline-the-rise-and-fall-of-sears.html|url-status=live}} By the end of 2016, Sears operated 1,430 stores.{{Cite web|url=https://www.cnbc.com/2018/10/15/sears-files-for-bankruptcy.html|title=Sears files for bankruptcy, and Eddie Lampert steps down as CEO|last1=Hirsch|first1=Lauren|last2=Thomas|first2=Lauren|date=2018-10-15|website=CNBC|language=en|access-date=2019-09-03|archive-date=3 September 2019|archive-url=https://web.archive.org/web/20190903193516/https://www.cnbc.com/2018/10/15/sears-files-for-bankruptcy.html|url-status=live}} In October 2018, Sears filed for bankruptcy and announced it would close an additional 142 of its 687 stores.{{Cite web|url=https://www.usatoday.com/story/money/2018/10/15/sears-bankruptcy/1595399002/|title=Sears files for Chapter 11 bankruptcy protection, to close 142 more stores|last1=Jones|first1=Charisse|last2=Bomey|first2=Nathan|website=USA TODAY|language=en|date=2018-10-15|access-date=2019-09-03|archive-date=3 September 2019|archive-url=https://web.archive.org/web/20190903193513/https://www.usatoday.com/story/money/2018/10/15/sears-bankruptcy/1595399002/|url-status=live}} At the time of filing, Sears had 68,000 employees.

The phrase "retail apocalypse" began gaining widespread usage in 2017 following multiple announcements from many major retailers of plans to either discontinue or greatly scale back a retail presence, including companies such as H.H. Gregg, Family Christian Stores and The Limited all going out of business entirely.{{Cite news|url=https://www.dayton.com/business/retail-apocalypse-500-stores-more-close-this-year/RzTeZhnIk13YIlF0skFV3H/|title=RETAIL APOCALYPSE: 3,500 stores or more to close this year|last=Driscoll|first=Kara|date=March 27, 2017|work=Dayton.com|access-date=3 January 2023|archive-date=3 January 2023|archive-url=https://web.archive.org/web/20230103043307/https://www.dayton.com/business/retail-apocalypse-500-stores-more-close-this-year/RzTeZhnIk13YIlF0skFV3H/|url-status=live}} The Atlantic described the phenomenon as "The Great Retail Apocalypse of 2017", reporting nine retail bankruptcies and several apparel companies having their stock hit new lows, including that of Lululemon, Urban Outfitters, and American Eagle. Credit Suisse, a major global financial services company, predicted that 25% of U.S. malls remaining in 2017 could close by 2022.{{cite news|url=https://www.usatoday.com/story/money/2017/06/12/childrens-apparel-chain-gymboree-files-chapter-11-bankruptcy/102772792/|title=Gymboree files bankruptcy, closing up to 450 stores|first=Nathan|last=Bomey|date=June 12, 2017|access-date=June 12, 2017|newspaper=USA Today|archive-date=13 June 2017|archive-url=https://web.archive.org/web/20170613072445/https://www.usatoday.com/story/money/2017/06/12/childrens-apparel-chain-gymboree-files-chapter-11-bankruptcy/102772792/|url-status=live}}

Since 2017, the phrase is frequently applied to brick-and-mortar closures in retail, with the retail apocalypse creating a domino effect on manufacturers and suppliers; Hasbro, for example, cited the loss of the Toys "R" Us chain as a major cause for lost revenue and layoffs the company imposed in October 2018.{{cite news|url=https://www.wivb.com/news/national/hasbro-points-to-toys-r-us-demise-in-announcing-layoffs/1542038375|title=Hasbro points to Toys R Us' demise in announcing layoffs|newspaper=CBS News|date=October 22, 2018|access-date=October 22, 2018|archive-date=23 October 2018|archive-url=https://web.archive.org/web/20181023041848/https://www.wivb.com/news/national/hasbro-points-to-toys-r-us-demise-in-announcing-layoffs/1542038375|url-status=live}}

A 2019 analysis conducted by IHL Group international research and advisory firm found that when a retailer closes many stores, it indicates more about the individual retailer rather than the retail industry overall. In 2019, the 20 stores announcing the most closures represent 75% of all closures. IHL found that for each retailer closing stores in 2019, more than five retail chains are opening stores, an increase from the 3.7 ratio of 2018. IHL also reported that the number of chains adding stores in 2019 had increased 56%, while the number of closing stores decreased by 66% in the last year.{{Cite web|last=Wilson|first=Marianne|url=https://chainstoreage.com/real-estate/ihl-study-five-retailers-opening-stores-for-every-retailer-closing-stores|title=IHL Study: Five retailers opening stores for every retailer closing stores|website=Chain Store Age|language=en|date=2019-08-11|access-date=2019-12-13|archive-date=13 December 2019|archive-url=https://web.archive.org/web/20191213005013/https://chainstoreage.com/real-estate/ihl-study-five-retailers-opening-stores-for-every-retailer-closing-stores|url-status=live}}{{cite web |last1=Holman |first1=Jordyn |last2=Green |first2=Jeff |title=Retail Apocalypse Gives More Women a Shot as CEO |url=https://www.bloomberg.com/news/articles/2019-12-13/retail-apocalypse-gives-more-women-a-shot-as-ceo |website=Bloomberg |date=13 December 2019 |access-date=15 December 2019 |archive-date=15 December 2019 |archive-url=https://web.archive.org/web/20191215205845/https://www.bloomberg.com/news/articles/2019-12-13/retail-apocalypse-gives-more-women-a-shot-as-ceo |url-status=live }}

As of May 2020, bankruptcies and store closings were expected to intensify due to widespread business closures and the resulting financial impact of the COVID-19 pandemic. J. Crew, Century 21, Neiman Marcus, Stage Stores, Stein Mart, Lord & Taylor, JCPenney, Tuesday Morning, and Pier 1 Imports were among the first major retailers to file for bankruptcy during the COVID-19 pandemic.

{{Further|Online shopping}}

The main factor cited in the closing of retail stores in the retail apocalypse is the shift in consumer habits towards online shopping.{{cite web |last=James |first=Mark |title=Retail Apocalypse |url=https://target-help.com/retail-apocalypse/ |archive-url=https://web.archive.org/web/20190209124317/https://target-help.com/retail-apocalypse/ |archive-date=9 February 2019 |date=8 February 2019}} Holiday sales for e-commerce increased by an estimated 11% to 20% from 2015 to 2016. The same year, brick-and-mortar stores saw an overall increase of only 1.6%, with physical department stores experiencing a 4.8% decline.{{Cite news|url=http://www.practicalecommerce.com/articles/132707-2016-Holiday-Ecommerce-Wrap-up|title=2016 Holiday Ecommerce Wrap-up|first=Marcia|last=Kaplan|date=January 12, 2017|access-date=April 8, 2017|newspaper=PracticalEcommerce|archive-date=14 April 2017|archive-url=https://web.archive.org/web/20170414082855/http://www.practicalecommerce.com/articles/132707-2016-Holiday-Ecommerce-Wrap-up|url-status=live}}

Another factor is an over-supply of malls{{cite web |last=Bain |first=Mark |title=America's vast swaths of retail space have become a burden in the age of e-commerce |url=https://qz.com/1032723/theres-much-more-empty-retail-space-in-the-us-than-in-other-countries-on-a-per-capita-level |website=Quartz |date=19 July 2017 |access-date=25 July 2017 |archive-date=19 July 2017 |archive-url=https://web.archive.org/web/20170719191517/https://qz.com/1032723/theres-much-more-empty-retail-space-in-the-us-than-in-other-countries-on-a-per-capita-level/ |url-status=live }} as the growth rate of malls in North America between 1970 and 2015 was over twice the growth rate of the population. In 2004, Malcolm Gladwell wrote that investment in malls was artificially accelerated when the United States Congress introduced accelerated depreciation into the tax code in 1954.{{cite magazine |last=Gladwell |first=Malcolm |date=March 15, 2004 |title=The Terrazzo Jungle |url=https://www.newyorker.com/magazine/2004/03/15/the-terrazzo-jungle |magazine=The New Yorker |access-date=November 9, 2017 |archive-date=10 November 2017 |archive-url=https://web.archive.org/web/20171110061609/https://www.newyorker.com/magazine/2004/03/15/the-terrazzo-jungle |url-status=live }} Despite the construction of new malls, mall visits declined by 50% between 2010 and 2013 with further declines reported in each successive year.{{cite magazine |last=Sanburn |first=Josh |title=Why the Death of Malls Is About More Than Shopping |url=https://time.com/4865957/death-and-life-shopping-mall/ |magazine=Time |date=20 July 2017 |access-date=3 January 2023 |archive-date=16 July 2022 |archive-url=https://web.archive.org/web/20220716195621/https://time.com/4865957/death-and-life-shopping-mall/ |url-status=live }}

{{main|Experience economy}}

One idea presented in the 2010s for the supposed retail decline was a perceived ongoing "restaurant {{nowrap|renaissance"{{mdash}}{{tsp}}}}a shift in consumer spending habits for their disposable income from material purchases such as clothing towards dining out and travel.

Another cited factor is the "death of the American middle class" represented by declining real wages and rising costs creating a middle-class squeeze, resulting in large-scale closures of retailers such as Macy's, JCPenney, and Sears which traditionally relied on spending from this market segment.{{cite web|url=http://www.businessinsider.com/amazon-and-walmart-confirm-the-death-of-the-middle-class-2017-6|title=Amazon's and Walmart's latest moves confirm the death of the middle class as we know it|first=Hayley|last=Peterson|date=June 6, 2017|access-date=June 6, 2017|website=Business Insider|archive-date=6 June 2017|archive-url=https://web.archive.org/web/20170606223500/http://www.businessinsider.com/amazon-and-walmart-confirm-the-death-of-the-middle-class-2017-6|url-status=live}} Particularly in rural areas, variety stores such as Dollar General, Dollar Tree, and Family Dollar, once thought to be unaffected by the apocalypse since they have continued growing rapidly, are now perceived as being at best a symptom of the phenomenon, and at worst a direct cause of rural, independent retailers collapsing, unable to compete with the lower margins that national chains can sustain.{{Cite web|url=https://www.cnn.com/2019/07/19/business/dollar-general-opposition/index.html|title=Dollar stores are facing backlash across America|last=Meyersohn|first=Nathaniel|website=CNN|date=2019-07-19|access-date=2019-07-19|archive-date=23 July 2019|archive-url=https://web.archive.org/web/20190723210011/https://www.cnn.com/2019/07/19/business/dollar-general-opposition/index.html|url-status=live}}{{cite news |last=Misra |first=Tanvi |date=December 20, 2018 |title=The Dollar Store Backlash Has Begun |url=https://www.citylab.com/equity/2018/12/closest-grocery-store-to-me-dollar-store-food-desert-bargain/577777/ |work=CityLab |access-date=May 20, 2019 |archive-date=23 July 2019 |archive-url=https://web.archive.org/web/20190723203206/https://www.citylab.com/equity/2018/12/closest-grocery-store-to-me-dollar-store-food-desert-bargain/577777/ |url-status=live }}

Poor retail management coupled with an overcritical eye towards quarterly dividends cause a lack of accurate inventory control, so the sales floor suffers from underperforming merchandise and out-of-stock merchandise, creating a poor shopping experience for customers. The focus on short-term balance sheets induces management to understaff retail stores in order to keep profits high.{{Cite news|url=https://www.forbes.com/sites/paularosenblum/2014/04/15/walmarts-out-of-stock-problem-only-half-the-story/#1fb788873696|title=Walmart's Out Of Stock Problem: Only Half The Story?|last=Rosenblum|first=Paula|work=Forbes|date=2014-04-15|access-date=2017-12-14|language=en|archive-date=15 December 2017|archive-url=https://web.archive.org/web/20171215001530/https://www.forbes.com/sites/paularosenblum/2014/04/15/walmarts-out-of-stock-problem-only-half-the-story/#1fb788873696|url-status=live}}{{Cite web|last=Rosenblum|first=Paula|url=https://www.rsrresearch.com/research/the-walmart-out-of-stock-problem-lessons-learned|title=The Walmart Out-of-Stock Problem: Lessons Learned|website=RSRResearch.com|date=2014-04-22|access-date=2017-12-14}} Furthermore, many long-standing chain retailers are overloaded with debt,{{cite news |last1=Townsend |first1=Matt |last2=Surane |first2=Jenny |last3=Orr |first3=Emma |last4=Cannon |first4=Christopher |title=America's 'Retail Apocalypse' Is Really Just Beginning |url=https://www.bloomberg.com/graphics/2017-retail-debt/?sref=CIpmV6x8 |access-date=26 July 2023 |work=Bloomberg.com |date=8 November 2017 |language=en }} often from leveraged buyouts from private equity firms, which hinders the profitable operation of retail chains.{{Cite magazine|last=Shephard|first=Alex|url=https://newrepublic.com/article/147669/real-retail-killer|title=The Real Retail Killer|magazine=The New Republic|date=2018-03-28|access-date=2018-11-27|language=en-US}}{{Cite news|last=Richter|first=Wolf|url=https://www.businessinsider.com/brick-and-mortar-retail-private-equity-debt-financing-lbo-2017-8?international=true&r=US&IR=T|title=The retail apocalypse is being fueled by private equity firms adding to debt loads|work=Business Insider|date=2017-08-02|access-date=2018-11-27|archive-date=27 November 2018|archive-url=https://web.archive.org/web/20181127234241/https://www.businessinsider.com/brick-and-mortar-retail-private-equity-debt-financing-lbo-2017-8?international=true&r=US&IR=T|url-status=live}}

{{Main|Impact of the COVID-19 pandemic on retail}}

The COVID-19 pandemic exacerbated many issues affecting retailers, as many were forced to shut down due to non-pharmaceutical interventions that were issued in an effort to mitigate the pandemic.{{Cite web|title=Gordmans Parent Company Files for Bankruptcy|url=https://wesb.com/2020/05/13/gordmans-parent-company-files-for-bankruptcy/|last=Holliday|first=Anne|website=WESB B107.5-FM/1490-AM {{!}} WBRR 100.1 The Hero|language=en|date=2020-05-13|access-date=2020-05-17|archive-date=25 September 2024|archive-url=https://web.archive.org/web/20240925031224/https://wesb.com/2020/05/13/gordmans-parent-company-files-for-bankruptcy/|url-status=live}}

At the same time, online shopping boomed during the coronavirus-related lockdown, even though it came back down starting in 2022.{{cite web |url=https://apnews.com/article/technology-amazoncom-inc-north-america-earnings-business-3ed169ad4883a5f7cb6f6bf888564519 |title=Amazon beats Q4 revenue estimates, but profits slump |last=Hadero |first=Haleluya |date=2023-02-02 |publisher=Associated Press |access-date=2023-06-04 |quote=Amazon has been struggling to right-size its business in the past year as consumers pulled back from the pandemic-induced move towards online shopping. |archive-date=4 June 2023 |archive-url=https://web.archive.org/web/20230604134859/https://apnews.com/article/technology-amazoncom-inc-north-america-earnings-business-3ed169ad4883a5f7cb6f6bf888564519 |url-status=live }} Most of the major e-commerce retailers in the United States were classified as essential businesses and were not required to shut down. Buyers stated that they would deliberately buy products from such categories as food and drinks, hygiene, household cleaning, clothing, health, and consumer electronics online rather than in person due to COVID-19. The outbreak is said to have changed shopping behavior permanently: in the US, 29% of surveyed consumers stated that they had no intention to ever go back to offline shopping. In the UK, this number reached 43%.{{Cite web|last=Kuhuk|first=Jane|title=COVID-19 shopping behavior: what products would customers rather buy online? [Infographic]|url=https://competera.net/resources/articles/ecommerce-online-shopping-behavior-retail-infographic|website=competera.net|date=2020-05-19|language=en|access-date=19 May 2020|archive-date=21 May 2020|archive-url=https://web.archive.org/web/20200521233436/https://competera.net/resources/articles/ecommerce-online-shopping-behavior-retail-infographic|url-status=live}}

In June 2020, retail research firm Coresight reported that they estimated that the number of store closures due to the pandemic and ensuing recession would exceed the 2019 record of 9,302.{{cite web |last1=Young |first1=Sarah |title=Record number of retailers expected to close this year |url=https://www.consumeraffairs.com/news/record-number-of-retailers-expected-to-close-this-year-060920.html |website=www.consumeraffairs.com |publisher=ConsumerAffairs |access-date=21 June 2020 |language=en |date=9 June 2020 |archive-date=21 June 2020 |archive-url=https://web.archive.org/web/20200621235115/https://www.consumeraffairs.com/news/record-number-of-retailers-expected-to-close-this-year-060920.html |url-status=live }}{{cite web |title=2020 Store Closures in the US: Update—Covid-19 Impact Set To Drive Up Closures |url=https://coresight.com/research/us-store-closures-2020-outlook-covid-19-update-prolonged-impact-set-to-drive-up-closures/ |website=Coresight Research |access-date=21 June 2020 |date=9 June 2020 |archive-date=25 September 2024 |archive-url=https://web.archive.org/web/20240925031224/https://coresight.com/research/us-store-closures-2020-outlook-covid-19-update-prolonged-impact-set-to-drive-up-closures/ |url-status=live }}

Coresight Research data later indicated that store closures had reduced by 49% from 2020 to 2021, with store openings increased by 36% over the previous year.{{cite web |title=Coresight Bites: US Store Openings and Closures—2021 Review and 2022 Outlook |url=https://coresight.com/research/coresight-bites-us-store-openings-and-closures-2021-review-and-2022-outlook/ |website=Coresight Research |date=2022-01-06 |access-date=17 August 2022 |archive-date=16 May 2022 |archive-url=https://web.archive.org/web/20220516175404/https://coresight.com/research/coresight-bites-us-store-openings-and-closures-2021-review-and-2022-outlook/ |url-status=live }} Clothing and accessories accounted for 43% of retail closures in 2021. In July 2022, the analytics firm published findings that store openings had exceeded store closings for the first half of 2022, and that there were 10% fewer closings and 3% fewer openings than in 2021.{{cite web |last1=Wargo |first1=Buck |title=In Spite of Worries About Inflation, Downturn, Retail Leasing Has Thrived This Year |url=https://www.wealthmanagement.com/retail/spite-worries-about-inflation-downturn-retail-leasing-has-thrived-year |website=wealthmanagement.com |publisher=Wealth Management |date=19 July 2022 |access-date=17 August 2022 |archive-date=17 August 2022 |archive-url=https://web.archive.org/web/20220817175406/https://www.wealthmanagement.com/retail/spite-worries-about-inflation-downturn-retail-leasing-has-thrived-year |url-status=live }}

{{main|List of retailers affected by the retail apocalypse}}

Researchers say retailers' survival may be tied to customer experience and brand reputation. In 2019, Forbes said brand reputation was the biggest factor. In 2020, Monash University in Australia said the three key factors were delivering a "great in-store retail experience", customer-targeted stock offerings, and "seamless omnichannel integration".{{cite web |date=2020-02-12 |title=The trick to thriving in a 'retail apocalypse' |url=https://impact.monash.edu/retail/the-trick-to-thriving-in-a-retail-apocalypse/ |access-date=29 August 2022 |website=impact.monash.edu |publisher=Monash Business School, Monash University |location=Australia |archive-date=25 September 2024 |archive-url=https://web.archive.org/web/20240925031728/https://impact.monash.edu/retail/the-trick-to-thriving-in-a-retail-apocalypse/ |url-status=live }}

Toys "R" Us may not have responded well to changing consumer behavior.{{Cite web|url=https://www.forbes.com/sites/blakemorgan/2019/09/03/slow-your-roll-robots-not-everyone-is-excited-about-walmarts-robots/|title=Slow Your Roll Robots: Not Everyone Is Excited About Walmart's Robots|first=Blake|last=Morgan|website=Forbes|date=2019-09-03|access-date=21 April 2020|archive-date=25 September 2024|archive-url=https://web.archive.org/web/20240925031727/https://www.forbes.com/sites/blakemorgan/2019/09/03/slow-your-roll-robots-not-everyone-is-excited-about-walmarts-robots/|url-status=live}}

Some retail chains are trying robots and other technologies to reduce costs or improve customer experiences. Ikea became one of the first retailers to use Apple's ARKit to develop an augmented reality app that allowed customers to visualize 3D renderings of Ikea products as they would appear in a certain room or place.{{Cite web|last=Lunden|first=Ingrid|url=https://techcrunch.com/2017/09/12/ikea-place-the-retailers-first-arkit-app-creates-lifelike-pictures-of-furniture-in-your-home/|title=IKEA Place, the retailer's first ARKit app, creates lifelike pictures of furniture in your home|website=TechCrunch|date=2017-09-12|access-date=26 July 2024|archive-date=12 April 2024|archive-url=https://web.archive.org/web/20240412060205/https://techcrunch.com/2017/09/12/ikea-place-the-retailers-first-arkit-app-creates-lifelike-pictures-of-furniture-in-your-home/|url-status=live}}{{Cite web|last=Lunden|first=Ingrid|url=https://techcrunch.com/2020/04/02/ikea-acquires-ai-imaging-startup-geomagical-labs-to-supercharge-room-visualisations/|title=Ikea acquires AI imaging startup Geomagical Labs to supercharge room visualisations|website=TechCrunch|date=2020-04-02|access-date=25 April 2020|archive-date=21 April 2023|archive-url=https://web.archive.org/web/20230421205338/https://techcrunch.com/2020/04/02/ikea-acquires-ai-imaging-startup-geomagical-labs-to-supercharge-room-visualisations/|url-status=live}} Macy's, American Eagle, Nike and Sephora were reported to be implementing various technologies to integrate digital experiences to improve consumers' physical shopping experiences. Sephora has installed smart mirrors that use augmented reality to allow customers to try on makeup.{{Cite web|url=https://www.cnn.com/2019/08/15/tech/retail-technology-nike-macys-reformation/index.html|title=Stores are starting to feel a lot more like the internet|last=Meyersohn|first=Nathaniel|website=CNN|date=2019-08-15|access-date=21 April 2020|archive-date=27 December 2019|archive-url=https://web.archive.org/web/20191227034302/https://www.cnn.com/2019/08/15/tech/retail-technology-nike-macys-reformation/index.html|url-status=live}} Walmart automated some aspects of its supply chain. Kohl's reduced the size of some stores from 90,000 to between 60,000 and 35,000 square feet{{Cite web|url=https://www.forbes.com/sites/michaelfertik/2019/05/02/how-to-avoid-being-victim-to-the-retail-apocalypse/|title=How to Avoid Being Victim to the Retail Apocalypse|first=Michael|last=Fertik|website=Forbes|date=2019-05-02|access-date=21 April 2020|archive-date=28 March 2020|archive-url=https://web.archive.org/web/20200328221432/https://www.forbes.com/sites/michaelfertik/2019/05/02/how-to-avoid-being-victim-to-the-retail-apocalypse/|url-status=live}} and uses robots to help clean and stock shelves. Lowe's has been using LowesBot to help customers find items. Company executives have said robots lower costs and improve efficiency, but employees report they don't like working with robots.

A 2018 study from the International Council of Shopping Centers indicated that opening new stores can increase traffic to retailer websites.{{Cite web|url=https://www.icsc.com/news-and-views/icsc-exchange/icsc-halo-effect-study-finds-physical-stores-drive-increase-in-online-traff|title=ICSC "Halo Effect" Study Finds Physical Stores Drive Increase in Online Traffic and Brand Awareness|website=reports.icsc.org|language=en|date=2018-10-15|access-date=2018-11-09|archive-date=29 August 2022|archive-url=https://web.archive.org/web/20220829182015/https://www.icsc.com/news-and-views/icsc-exchange/icsc-halo-effect-study-finds-physical-stores-drive-increase-in-online-traff|url-status=live}}

{{Portal|Business|Economics|History|Companies|United States}}

• Dead mall
• Direct-to-consumer
• Economic history of the United States
• Pop-up shop

{{Reflist}}

• Brian Sozzi, [https://www.thestreet.com/story/14298940/1/coach-ceo-perfectly-explains-what-must-be-done-to-survive-retail-apocalypse.html "Coach CEO Perfectly Explains What Must Be Done to Survive Retail Apocalypse"], thestreet.com September 8, 2017
• [https://www.nytimes.com/2017/11/13/fashion/shopping-online-retail.html "The Death Knell for the Bricks-and-Mortar Store? Not Yet"], Matthew Schneier, The New York Times, November 13, 2017
• [http://www.newser.com/story/253582/the-mall-was-dead-except-for-the-jc-penney.html "What It's Like to Work in the Last Big Store in a Dying Mall"], Kate Seamons, Newser, January 2, 2018

; Videos

• {{cite web|url=https://www.youtube.com/watch?v=BBmvMpZCNJg|title=American shopping malls struggle to survive|work=CBS Sunday Morning|publisher=CBS|date=2014-03-30}}
• {{cite web|url=https://www.youtube.com/watch?v=I7y1FoFqtiw|title=The rise and fall of the American shopping mall|work=PBS Newshour|publisher=PBS|date=2014-11-28}}
• {{cite web|url=https://www.youtube.com/watch?v=oooVC3zfDc8|title=What America's shopping mall decline means for social space|publisher=Vox|date=2018-04-06}}

{{Economic history}}

Category:2010 establishments in the United States

Category:2016 in economic history

Category:2017 in economic history

Category:2018 in economic history

Category:2019 in economic history

Category:2020 in economic history

Category:2021 in economic history

Category:2022 in economic history

Category:2023 in economic history

Category:Economic history of the United States

Category:Economic impact of the COVID-19 pandemic in the United States

Category:Economic problems

Category:History of retail in the United States

Category:Real estate in the United States

Category:Urban decay in the United States

Category:Social impact of the COVID-19 pandemic in the United States