Brick and mortar retail is dying according to many reports.
Here’s an example:
American retailers are closing stores at the fastest pace ever.
Roughly 10% of mall retail space - or 1 billion square feet - is on the verge of being closed, having rents slashed or transformed into something else. And in March, retailers cut 30,000 jobs, the same as in February.
It was the worst two-month span of job cuts for the sector since 2009 - during the depths of the Great Recession!
This year, as many as 8,640 total stores may close - which would outpace the 6,200 closed in 2008.
And as I've pointed out for years, it's because the companies failed to adapt. They were slow to recognize the changing tides and are now being destroyed by a single company... Amazon .”
