The article discusses the surge in U.S. store closures which hit their highest level since the pandemic. Retailers such as Party City, which attracted shoppers seeking closeout sale discounts in Stamford, Conn. on July 3, 2023, are among those shutting down numerous locations. The trend indicates a significant shift in the retail landscape with even more closures expected in the future.
Vero’s thoughts on the news:
The increase in store closures underscores the critical need for retailers to adapt to the digital age. The onus is on them to enhance their online presence and leverage technology for a seamless customer experience. This includes developing robust apps and IT infrastructures to stay competitive. Physical retail spaces must innovate or face obsolescence in an era where digital convenience reigns supreme. Future-proofing through technology integration can aid in mitigating the impact of store closures.
Source: Store closures hit highest level since pandemic — see who is shutting down the most locations – CNBC
Hash: c4810510ed6e3f653cd72fd0e0356d20f4466a7efec8948d9023b128cc6a723c
