Bloomberg News recently reported, “America’s ‘Retail Apocalypse’ Is Really Just Beginning,” as they counted nearly 7,000 retail store closings to date in 2017. And for 2018, things don’t look much better. J. Crew just announced that some 40 stores would be shuttered in January 2018. Bon-Ton department store has plans to close a similar number. Sears and Kmart are ‘dead brands’ walking and Toys R Us and Payless shoes are currently in bankruptcy.
“A pall has been cast on retail,” said Charlie O’Shea, a retail analyst for Moody’s. “A day of reckoning is coming.”
But the troubles in retail are not just affecting the national retailers. Small businesses on Main Street face similar challenges, due to the rapidly shifting ways consumers are shopping today. Amazon isn’t the only disruptive force to blame. More shoppers are choosing to spend their money on experiences, rather than buying things. The stage is set for continued retail disruption, for both large and small retailers, in 2018 and beyond.
Christopher Ramey, Retail Rescue’s Management Rescue expert, has prepared this white paper, Retail Rescue 2018 and Beyond, to help retailers navigate the changing retail landscape in 2018 and beyond. Download this white paper to get planning for success in the new year.
Retail Rescue believes that establishing non-negotiable standards, redefining value, and implementing a hundred other marketing, merchandising and management strategies and tactics will drive your success.