- Last year 4,000 stores closed - in 2017, it is estimated that twice this number will close.
- Standard & Poor's predicts more retailing defaults in 2017 than in 2009.
- Since January, the retailing industry has shed 50,000 jobs.
- To match demand - 30% of space could close permanently. This would constitute job losses of potentially 4.8 million retail workers.
- Retailing makes up 31% of all U.S. commercial property.
- Just 20% of retail store workers have a college degrees.
- Malls account for 8% of U.S. retailing.
- Retailers have a market value of $1.6 trillion - how much will vanish during the structural correction?
- By July 2018 retailing will have shed three times as many jobs as Amazon is due to create.
- E-commerce jobs will require a college degree - - traditional retailing does not.
- More retailing jobs than coal mining jobs by a factor of 300.
Sunday, May 14, 2017
What I Learned About the Dismal State of U.S. Retailing
From the Economist - Briefing American Retailing: