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A “Retail Apocalypse” Is Gaining Momentum All Over America. Is Your Favorite Cha

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Ptarmigan:
A “Retail Apocalypse” Is Gaining Momentum All Over America. Is Your Favorite Chain Closing Stores?
https://themostimportantnews.com/archives/a-retail-apocalypse-is-gaining-momentum-all-over-america-is-your-favorite-chain-closing-stores


--- Quote ---Why are retailers closing thousands of stores if the U.S. economy is in good shape?  Of course the truth is that the U.S. economy is not in good shape at all.  The cost of living crisis is absolutely crushing working families all over the nation, and U.S. consumers simply don’t have as much discretionary income as they once did.  Needless to say, our retailers are highly dependent on discretionary spending, and many of them have been reporting very disappointing sales numbers recently.  Sadly, the problems that our retailers are experiencing are only going to intensify as U.S. economic activity continues to slow down.

According to CBS News, U.S. retailers have announced the closing of more than 3,000 locations in 2024…

The retail industry is going through a tough time as it copes with inflation-weary consumers and a rash of bankruptcies, prompting chains to announce the closures of almost 3,200 brick-and-mortar stores so far in 2024, according to a new analysis.

That’s a 24% increase from a year ago, according to a report from retail data provider CoreSight, which tracks store closures and openings across the U.S.

The closing of 3,200 stores sounds really bad, but it is important to note that the quote above is from a CBS News story that was published on May 13th.

Since that time, there have been a lot more store closing announcements.

For example, last week we learned that Big Lots plans to close nearly 300 stores…
--- End quote ---

Many retails are closing down. Shoplifting is a major factor.


--- Quote ---According to a recent survey that was conducted by LendingTree, close to a fourth of the entire population admits that they have shoplifted…

Nearly one-quarter of American adults have shoplifted, according to a new survey from LendingTree, the personal finance site. Roughly 1 in 20 consumers have shoplifted within the past year.

Shoplifting is a complicated crime. The motive can range from adolescent rebellion to adult thrill-seeking to hand-to-mouth poverty. Many of us steal things we don’t need and won’t use.

“I’ve learned that a lot of people have given shoplifting a try for lots and lots of reasons,” said Matt Schulz, chief credit analyst at LendingTree.

At this point, shoplifting has become one of our primary national pastimes.

And it is increasingly becoming a “team sport” in many parts of the nation.
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