Sunday, May 14, 2017

What I Learned About the Dismal State of U.S. Retailing

From the Economist - Briefing American Retailing:

  • 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.

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