Proof Point
UBS estimated 7,795 U.S. stores closed or announced to be closed in 2017, 26.5% more than closures during 2008 economic recession
U.S. Retail Store Closures
2000 - 2017 (number)
Proof Point Findings
- Worse Than Financial Crisis – UBS stated 7,795 U.S. stores closed or announced to be closed in 2017, more than peak of 6,163 store closures during 2008 crisis as tracked by Credit Suisse
- Highest Closures – Top three retail brands with highest number of stores announced closed in 2017 include RadioShack (1,470), Payless (700), and Rite Aid (600)
- Five-Year Forecast – Credit Suisse forecasts one in four U.S. malls will close through 2022, as traditional retail stores face increasing pressure from e-commerce channels
- Key Drivers – Include increasing consumer preference for online transactions, expansion of traditional retail companies into digital space, growing popularity of discount chains, retail market contraction, retail space oversupply, and company bankruptcies
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Accelerator |
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Market Disruption |
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Sector |
Wholesale and Retail Trade
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Source |
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Date Last Updated |
May 3, 2018
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