Record 15,000 U.S. store closures in 2024, with a similar forecast for 2025, as retail shifts online.
U.S. store closures hit a record high in 2024, with around 15,000 stores closing, and a similar number expected in 2025. The closures affect major retailers like Party City and Macy's, while Amazon, Costco, and Walmart gain market share. Factors include competitive pressures, bankruptcies, and consumer shifts towards online shopping. Retailers are advised to adopt technologies like AI to stay relevant.
3 months ago
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