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New Study Shows the Retail Industry Isnít Struggling as Much as You May Think
From The Buxton Co
Todayís news headlines scream the end of the retail industry as we know it. This ďretail apocalypseĒ has been discussed so often that it is embraced as fact.
But is it true?
A new study from IHL Group on 1,660 U.S. retailers with 50+ locations suggests that the retail industry is not, in fact, dying. Instead, the industry has seen a net gain of 8,575 stores from 2017-2019.
Consider these facts from the study:
What we are witnessing is a classic business example of survival of the fittest. Retailers who have adapted to the new omnichannel environment and managed their finances well are thriving. Those who havenít are dying. However, the number who have adapted greatly exceeds the number who have not.
Retail leadership teams need to double down on answering fundamental questions.
The retail industry isnít struggling as much as you may think. Sound business management and a willingness to adapt to the changing environment are the keys to success.
If your company needs help addressing any of the fundamental questions above, we can help. Our retail analytics and technology are designed to help you make the right business decisions to position your company for success.
If you have an opinion on the retailing or retail real estate industries, take this opportunity to share your thoughts. Articles should run between 400 and 800 words. Topics can, be general in nature, consumer observation or specific to retail concepts or practices.
Articles will be posted for at least one week and will then be placed in the Editorial Archives. All articles submitted will be read and considered but we cannot guarantee publication. Each published article will carry the submitters byline (if desired) and is a free service to our community.
Article ideas and suggestions are also always welcomed. Contact PVS@PlainVanillaShell.com
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