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.