Trendspotting: Brick-and-mortar retailers must adjust or risk extinction
By
Craig Levitt
Trendspotting: Brick-and-mortar retailers must adjust or risk extinction
By
Craig Levitt
With a new year comes a bit of trepidation for retailers, especially this year. Consumers are prepared to tighten their belts — and their wallets — when it comes to spending. So, what does that mean for the long-term success for retailers?
According to Coresight Research, a research and advisory firm specializing in retail and technology, U.S. store closures totaled 7,325 in 2024. The firm expects that to increase in 2025 to approximately 15,000. Store openings totaled 5,970 in 2024 and are expected to be similar this year.
“Inflation and a growing preference among consumers to shop online