Is the Retail Apocalypse – Fact or Fiction?
If you read the headlines, you would believe the Retail Apocalypse is imminent with announcements seemingly each week of new store closures. In fact, earlier this year, we posted a story called Retail Store Closures Pick Up Speed, Says Report based on a report by Fung Global Retail and Technology Tracker. But a new report by IHL Group entitled Debunking the Retail Apocalypse provides an alternative perspective. Their research shows that retailers and restaurants are planning to open 14,248 locations in 2017 compared to 10,168 announced closures. A net increase of more than 4,000 new stores is a very different story than what is captured in the headlines. And the projections for 2018 are even stronger with more than 5,500 openings projected.