The top retail story last year was no doubt the record number of store closures. And believe it or not, that same narrative might dominate the headlines in 2018.
Cushman & Wakefield’s vice president of retail research for the Americas Garrick Brown, is predicting that the number of doors that close this year could surpass last year’s total by as much as 30 percent.
That’s the bad news.
The good news, he said, is that’ll pretty much be it in terms of big store closure numbers for awhile.
“In a lot of ways we’ll be back to some of the same trends that fueled the retail apocalypse story line,” Brown said.
In 2017, nearly 9,000 stores closed across retail sectors. In 2018, Cushman & Wakefield said that number will be between 10,000 and 11,000 doors—and that’s fewer than the 13,000 the analysts initially forecast, thanks in part to Simon Properties’ legal action attempting to block Starbucks from closing Teavana locations.
Read more at Sourcing Journal.