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Eighty thousand stores are expected to close in the U.S.



By 2026, the retail market will lose about 9 percent of all retail stores.
Closed - Pexels

Although the rate of U.S. retail store closures has slowed since the 2019 peak, analysts expect the trend to continue. There are too many physical retail outlets per capita, given the continued exodus of shoppers online. 

At the end of 2020, there were about 115,000 malls in the U.S., including outlet stores and lifestyle centers. By comparison, back in 2000, their number was as high as 90,000. Thus, per U.S. family has 5.4 square meters of retail space, analysts said UBS. 

They estimate that by 2026 the market will lose about 9% of all retail stores, about 80 thousand retail facilities. Online channels will account for 27% of the entire retail mix, versus 18% today, CNBC writes. 

"The enduring legacy of the pandemic is that online penetration has increased dramatically. We expect it to continue to grow, which will further rationalize retail stores, especially as some of the government's extraordinary support measures wane," commented analyst Michael Lasser. 

According to the research report, U.S. retailers will close a combined 3,169 stores in 2021, with 3,535 new openings. In 2019, there were 9,832 store closures in the U.S. retail market, and in 2020, the number of closures dropped to 8,741 outlets. 

The UBS study authors believe a government program that encourages consumers to spend money on goods in the absence of travel and entertainment is currently helping traditional retailers. But these trends will not be long-lasting, which will eventually lead to more retail store closures. The most challenging situation will arise in the fashion retail market, where about 21,000 stores, including mall space, will close cumulatively by 2026. In contrast, losses in the home improvement, food, and auto parts segments will be minimal, despite the growth of e-commerce. 


More about shopping malls in the USA



DAY BEFORE YESTERDAY, China:
Louis Vuitton continues to look for new growth opportunities in Asian markets.
Nov 24, 2022, Australia:
French luxury retailer is opening its first airport store in Southern Hemisphere.
Nov 24, 2022, USA:
We want to make people look good and feel good, we want you to feel sexy and have fun doing it.
Nov 23, 2022, Singapore:
The flagship store of the new format appeared in Singapore.
Nov 22, 2022, Japan:
The store is located on Omotesando Avenue, one of the most prestigious locations of the Japanese capital.
Nov 21, 2022, United Kingdom:
The closures are part of the group's global cost-cutting strategy.
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