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Thread: The retail apocalypse has officially descended on America

  1. #1

    The retail apocalypse has officially descended on America

    http://www.businessinsider.com/the-r...america-2017-3

    Mar. 21, 2017 by Hayley Peterson

    Thousands of mall-based stores are shutting down in what's fast becoming one of the biggest waves of retail closures in decades.

    More than 3,500 stores are expected to close in the next couple of months.

    Department stores like JCPenney, Macy's, Sears, and Kmart are among the companies shutting down stores, along with middle-of-the-mall chains like Crocs, BCBG, Abercrombie & Fitch, and Guess.

    Some retailers are exiting the brick-and-mortar business altogether and trying to shift to an all-online model.

    For example, Bebe is closing all its stores — about 170 — to focus on increasing its online sales, according to a Bloomberg report. The Limited also recently shut down all 250 of its stores, but it still sells merchandise online.

    Others, such as Sears and JCPenney, are aggressively paring down their store counts to unload unprofitable locations and try to staunch losses.



    Sears is shutting down about 10% of its Sears and Kmart locations, or 150 stores, and JCPenney is shutting down about 14% of its locations, or 138 stores.

    According to many analysts, the retail apocalypse has been a long time coming in the US, where stores per capita far outnumber that of any other country.

    The US has 23.5 square feet of retail space per person, compared with 16.4 square feet in Canada and 11.1 square feet in Australia, the next two countries with the most retail space per capita, according to a Morningstar report from October.

    Visits to shopping malls have been declining for years with the rise of e-commerce and titanic shifts in how shoppers spend their money. Visits declined by 50% between 2010 and 2013, according to the real-estate research firm Cushman & Wakefield.

    And people are now devoting bigger shares of their wallets to restaurants, travel, and technology than ever before, while spending less on apparel and accessories.

    As stores close, many shopping malls will be forced to shut down as well.

    When an anchor store like Sears or Macy's closes, it often triggers a downward spiral in performance for shopping malls.

    Not only do the malls lose the income and shopper traffic from that store's business, but the closure often triggers "co-tenancy clauses" that allow the other mall tenants to terminate their leases or renegotiate the terms, typically with a period of lower rents, until another retailer moves into the anchor space.

    To reduce losses, malls must quickly find a replacement tenant for the massive retail space that the anchor store occupied, which is difficult — especially in malls that are already financially strapped — when major department stores are reducing their retail footprints.

    That can have grave consequences for shopping malls, especially in markets where it's harder to transform vacant mall space into non-retail space like apartments, according to analysts.

    The nation's worst-performing malls — those classified in the industry as C- and D-rated — will be hit the hardest by the store closures.

    The real-estate research firm Green Street Advisors estimates that about 30% of all malls fall under those classifications. That means that nearly a third of shopping malls are at risk of dying off as a result of store closures.



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  3. #2
    There are a couple of dead malls here - one got built and never opened - they tried to make it a sports complex.. then something medical - I think it's just a big empty eyesore with a huge parking lot now. Wasn't there a developer that was turning some in bigger cities into apartment complexes?
    Disclaimer: any post made after midnight and before 8AM is made before the coffee dip stick has come up to optomim level - expect some level of silliness,

    The problems we face today exist because the people who work for a living are out numbered by those who vote for a living !!!!!!!

  4. #3
    amazon is going to put a lot more out of business before its over , with amazon prime you get a lot of free shipping , a lot with no taxes , easy returns if you don't want or like the item .

    walmart will be more and more like amazon or they will be in trouble .

  5. #4
    Quote Originally Posted by ILUVRP View Post
    amazon is going to put a lot more out of business before its over , with amazon prime you get a lot of free shipping , a lot with no taxes , easy returns if you don't want or like the item .

    walmart will be more and more like amazon or they will be in trouble .
    Blockbuster vs. Netflix 2.0

  6. #5
    It is sad in a way . Pull into a town of 40k and no longer a Sears , Kmart , JC Pennies or a family owned hardware store . Save me money in the long run though , I do not really need anything and I do not shop online . The remainder of america will just buy all the cheap chinese crap they like online and I will mess around the farm.
    Do something Danke

  7. #6
    They will use all these bricks and mortar to build the wall. All part of the 33D chess plan...
    "And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat

    "It is difficult to free fools from the chains they revere." - Voltaire

  8. #7
    Quote Originally Posted by CaptUSA View Post
    They will use all these bricks and mortar to build the wall. All part of the 33D chess plan...
    You could teach CPUd a thing or two.

    Trump will pick a design for the wall using at least 90% recycled materials, just to piss off the left.

    Sorta like how Obama pissed off the right by calling his socialist healthcare choices a "marketplace"
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  9. #8
    Quote Originally Posted by dannno View Post
    You could teach CPUd a thing or two.

    Trump will pick a design for the wall using at least 90% recycled materials, just to piss off the left.

    Sorta like how Obama pissed off the right by calling his socialist healthcare choices a "marketplace"
    The Obama marketplace . Yeah , that is funny . Like grocery shopping in the old Soviet union.
    Last edited by oyarde; 03-23-2017 at 02:39 PM.
    Do something Danke



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  11. #9
    If I did need a clothing item , I could just shop at a second hand store and get a new item . Since all of the lazy ass americans just donate all the crap they buy online that does not fit . Online shopping has doubled or tripled the second hand stores around here .
    Do something Danke

  12. #10
    Just remember that purchase of the new item donated to the second hand store was likely tax subsidized ( say , 70 percent ) . Since only 6 in 10 americans work and only 3 of those six do not receive more benefits in return than what they pay .
    Last edited by oyarde; 03-23-2017 at 12:24 PM.
    Do something Danke

  13. #11
    I'd love to see an analysis of how much state and local sales taxes have contributed to this state of affairs.
    Partisan politics, misleading or emotional bill titles, and 4D chess theories are manifestations of the same lie—that the text of the Constitution, the text of legislation, and plain facts do not matter; what matters is what you want to believe. From this comes hypocrisy. And where hypocrisy thrives, virtue recedes. Without virtue, liberty dies. - Justin Amash, March 2018

  14. #12
    Our cat tower recently broke. The one we had was purchased in a brick and mortar store I think Petco. We saved big $$ by purchasing a new one online with free shipping. Arrived in two days. Imagine going to store and seeing big bulky boxes and trying to look at the pictures. Go online see many items. Read all the bad reviews, make a choice and that is it.

    There is hardly anything besides food that I need bad enough that I cannot wait for. All it takes is a little planning. Going into a store is a drag for me.

  15. #13
    Quote Originally Posted by undergroundrr View Post
    I'd love to see an analysis of how much state and local sales taxes have contributed to this state of affairs.
    not to mention business licenses, facility rent prices and employee costs vs just warehousing and postage
    It's probably a good time to own a trucking company
    Disclaimer: any post made after midnight and before 8AM is made before the coffee dip stick has come up to optomim level - expect some level of silliness,

    The problems we face today exist because the people who work for a living are out numbered by those who vote for a living !!!!!!!

  16. #14
    Quote Originally Posted by opal View Post
    It's probably a good time to own a trucking an oil company
    FTFY

  17. #15
    Others, such as Sears and JCPenney, are aggressively paring down their store counts to unload unprofitable locations and try to staunch losses.
    Reasonable strategy. No need to keep a location open if it loses money, and management is unable to turn it around.

    The positives of a brick and mortar location are that people can browse, viewing the actual item, and they can get something immediately. That is obvious. What is less obvious is that the real stores help the online store, in that people can return items easily, and they can find something they like at the store, and then order a size or color online that was not available.

    The combination of store and online shopping together make it advantageous to keep a store open, even if it breaks even. Nordstrom's seems to be doing a good job with that model.
    Twitter: B4Liberty@USAB4L
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    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  18. #16
    All part of being an instant gratification society. Even adolescents don't need no stinking mall.they have whatever latest teenybopper social media is out there. I personally hate shopping myself, so I do it all online for the most part. Going places is going the way of the dodo bird.



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  20. #17
    Quote Originally Posted by oyarde View Post
    The Obama marketplace . Yeah , that is funny . Like grocery shopping in the ls Soviet union.
    That's almost as funny as when Obama say's "We're going to ask the rich to pay their fair share."

  21. #18
    Quote Originally Posted by Schifference View Post
    Our cat tower recently broke. The one we had was purchased in a brick and mortar store I think Petco. We saved big $$ by purchasing a new one online with free shipping. Arrived in two days. Imagine going to store and seeing big bulky boxes and trying to look at the pictures. Go online see many items. Read all the bad reviews, make a choice and that is it.

    There is hardly anything besides food that I need bad enough that I cannot wait for. All it takes is a little planning. Going into a store is a drag for me.
    I live in a relatively small town and I've noticed that there's a lot of stuff now that you HAVE to order online because the local stores quit carrying it.

  22. #19
    The more we order online, the better they can track / profile us
    I kinda like shopping at the various stores, with cash
    Disclaimer: any post made after midnight and before 8AM is made before the coffee dip stick has come up to optomim level - expect some level of silliness,

    The problems we face today exist because the people who work for a living are out numbered by those who vote for a living !!!!!!!

  23. #20
    Quote Originally Posted by Madison320 View Post
    I live in a relatively small town and I've noticed that there's a lot of stuff now that you HAVE to order online because the local stores quit carrying it.
    The likelihood of going into Home Depot and walking out with a full size fridge, stove, or many appliances are slim. Nowadays they have display and you place your order for pickup or delivery at a date in the future. In days of old a person would go to the general merchant who would order the item and make their cut. Now hardly anyone stocks the item. Most things are drop shipped directly from manufacturer. Even online purchases. The seller never even touches the product.

  24. #21
    Quote Originally Posted by Schifference View Post
    The likelihood of going into Home Depot and walking out with a full size fridge, stove, or many appliances are slim. Nowadays they have display and you place your order for pickup or delivery at a date in the future. In days of old a person would go to the general merchant who would order the item and make their cut. Now hardly anyone stocks the item. Most things are drop shipped directly from manufacturer. Even online purchases. The seller never even touches the product.
    At some point I'm expecting the dollar to tank and gas prices to skyrocket. I'm wondering what that'll do to online shopping. I'm guessing at some point Amazon is going to have a minimum order for free shipping. Maybe $50-$100. I wouldn't mind that, I almost feel guilty buying something for $5.

  25. #22
    Quote Originally Posted by opal View Post
    There are a couple of dead malls here - one got built and never opened - they tried to make it a sports complex.. then something medical - I think it's just a big empty eyesore with a huge parking lot now. Wasn't there a developer that was turning some in bigger cities into apartment complexes?
    Apartments?? Living in a mall would be AWESOME
    It's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
    - Kim Kardashian

    Donald Trump / Rand Paul (Vice Pres) 2016!!!!

  26. #23
    Quote Originally Posted by Carlybee View Post
    All part of being an instant gratification society. Even adolescents don't need no stinking mall.they have whatever latest teenybopper social media is out there. I personally hate shopping myself, so I do it all online for the most part. Going places is going the way of the dodo bird.
    Wouldn't malls better serve an instant gratification society?

    Traditional one-building malls that are 100% retail are not doing well, but mixed shopping areas with entertainment and activities built in are booming. That's why new malls that you see around are typically outdoor malls with mostly smaller stores and which include non-shopping things to do... adult arcades, restaurants, movie theaters, gyms and other athletic facilities, etc. A store like Sears doesn't fit into a place like that, and they're too hung up on their traditional 'department store' strategy. Doesn't seem like that will work anymore.
    Quote Originally Posted by dannno View Post
    Trump hasn't even been in 6 months, you can't call him a boondoggle President unless he has overseen a military boondoggle for at least a year or two.


  27. #24
    Quote Originally Posted by TheTexan View Post
    Apartments?? Living in a mall would be AWESOME
    For some reason I don't understand that's actually really popular... this is the new mall near why I live in Columbia, SC. There's condos over the stores and apartment complexes tucked in behind the retail buildings.

    Quote Originally Posted by dannno View Post
    Trump hasn't even been in 6 months, you can't call him a boondoggle President unless he has overseen a military boondoggle for at least a year or two.




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  29. #25
    Quote Originally Posted by TheTexan View Post
    Apartments?? Living in a mall would be AWESOME
    I watched a short on this the other day. A guy took some second floor space and created "tiny apartments." About 200 sq. ft. They had bathrooms, but do to codes no kitchens other than a convection oven/microwave. I think they went for $500 a month. All the units were taken and the people that lived there liked it. Mostly interns/students. They liked the convenience of having a coffee shop,bakery and a Chinese restaurant on the lower level food court. It was in a big city so I imagine any apt. rent was $1k or greater.
    Last edited by phill4paul; 03-23-2017 at 04:19 PM.

  30. #26
    Quote Originally Posted by TheCount View Post
    Wouldn't malls better serve an instant gratification society?

    Traditional one-building malls that are 100% retail are not doing well, but mixed shopping areas with entertainment and activities built in are booming. That's why new malls that you see around are typically outdoor malls with mostly smaller stores and which include non-shopping things to do... adult arcades, restaurants, movie theaters, gyms and other athletic facilities, etc. A store like Sears doesn't fit into a place like that, and they're too hung up on their traditional 'department store' strategy. Doesn't seem like that will work anymore.
    They WERE the original instant gratification shopping venue before the internet and smartphones.

  31. #27
    Quote Originally Posted by TheTexan View Post
    Apartments?? Living in a mall would be AWESOME
    Let's buy one for our Galt Gulch project. I can go $5.99.

  32. #28
    Quote Originally Posted by Carlybee View Post
    Let's buy one for our Galt Gulch project. I can go $5.99.
    Actually, that's a cool idea. Plenty of square footage for "tiny" home sq. footage. Food court for public access restaurants. If you have skylights you can have gardens. You can have gardens without skylights . Any number of trade smith shops. Acres of kill zone around the parameter. How much does a mall cost?

  33. #29
    Quote Originally Posted by Carlybee View Post
    Let's buy one for our Galt Gulch project. I can go $5.99.
    I don't want any part in the concrete jungle.

  34. #30
    Let's stop trying to prevent millions of new retail shoppers from coming here from other countries then.

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