Retail store closings in 2020 reached an all-time high, in part due to COVID-19 and the acceleration of e-commerce:
“Ravaged by a pandemic that shuttered stores for weeks in the spring—driving more spending online—retailers big and small closed 12,200 stores in the U.S. last year, according to a compilation released on Wednesday by commercial real estate firm CoStar Group. In all, that amounted to 159 million square feet of retail space. In 2019, the tally was 10,000 stores.”
P.S. Unlike some retailers, Walmart is experiencing strong growth. Are you ready to continue doing business with Walmart and Sam’s Club? Get in touch with us today to schedule a consultation with one of our experts.