Tens of thousands of stores could still close even after the pandemic ends
CNN
The pandemic has already slammed stores across the country. The aftermath might not be any easier for retailers.
The pandemic sped up the shift to online shopping, and the continued growth of e-commerce sales will lead to more stores shutting down after the pandemic ends, UBS retail analysts led by Michael Lasser predicted in a report Monday. The report estimates that around 80,000 stores will close over the next five years. The scenario laid out by UBS is still an improvement from an earlier prediction it released. Last April, UBS analysts estimated that 100,000 retail stores would close by 2025. It brought the expectation down to 80,000 closures by 2026 -- not because the analysts see e-commerce having less of an impact, but because they now expect more stores to be used to fulfill online delivery and curbside pickup orders as e-commerce booms.More Related News
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