This year 3,800 stores will close nationwide, while the stock market booms and the economy grows.
Changing consumer behavior and the impact of e-commerce is impacting every brick-and-mortar store, and Texas Retailers Association President George Kelemen says owners are responding by focusing on what’s important and asking the right questions.
“Are you connected to them through email? Are you connected to your customers via social media? Are you connected to them in more traditional ways like mail?” he suggests as pertinent areas of inquiry.
Among the biggest national chain retailers, those who have announcing closing some locations include Toys-R-Us, J.C. Penney, Sam’s Club, Sears, Macys and Kmart.
Foot Locker announced this past week they will close 110 stores in 2018.
“All of retail these days, whether you’re large or small, in this day and age is about connecting to your customer,” says Kelemen.
Best Buy will close 250 mall-based mobile phone stores this year.
Toys-R-Us will close up to 182 locations.