The phrase “retail apocalypse” caught a lot of traction throughout 2017 due to the heavily publicized pileup of bankruptcies and store closures. 2017 wasn't much prettier. Back in 2000, less than 1% of retail sales came from e-commerce. The 'retail apocalypse' is an apparel apocalypse ... from 1977 U.S. The so-called "retail apocalypse" has been killing retail life for some time. 2017 was supposedly the year ecommerce pummeled the brick-and-mortar retail sector, creating what analysts called a “retail apocalypse.” Yet, according to research firm Statista, ecommerce contributed only 9.1 percent to total retail sales in the United States and 10.1 percent globally. The Great Retail Apocalypse. Back in 2000, less than 1% of retail sales came from e-commerce. With more than 9,000 store closures anticipated in 2017 and the number of retail bankruptcies already surpassing the 2016 total, the phrase “retail apocalypse” has been thrown around a lot in recent months.But while brick-and-mortar retailers of all sizes and types have had to make massive adjustments, the industry isn’t quite as close to its death bed as many would believe. The closures came as consumer preferences changed and sales continued to migrant to online … On May 4, 2020, Nordstrom announced that it would shutter sixteen locations. You might think, given that bleak narrative for physical retailers, that the rise of digital would lead to shrinking sales for traditional stores during the 2017 holiday season. The retail apocalypse summed up perfectly in one chart Jack Ablin, chief investment officer, BMO Private Bank Published 4:15 PM ET Thu, 5 Jan 2017 Updated 5:25 PM ET Thu, 5 Jan 2017 CNBC.com Overall, retailers have closed more than 15,000 stores since 2017, according to UBS. 2017 was the year of retail’s existential reckoning. But according to industry analysts and recent data, the buzzword ranges anywhere from an exaggeration to an outright false representation of the state of retail. And from 2019 to 2025, the debt coming due will balloon to an annual average of almost $5 billion. Debunking the Retail Apocalypse Authors Lee Holman Greg Buzek August, 2017 Retail Apocalypse: 20 Big Retailers Closing Stores In 2017 Insights , News Increasing online sales year after year has resulted in a steady decline of … Amazon Apocalypse The Chart of the Week is a weekly Visual Capitalist feature on Fridays. The so-called retail apocalypse has become so ingrained in the U.S. that it now has the distinction of its own Wikipedia entry. As you will see in this article, more than 300 retailers have already filed for bankruptcy in 2017, and it is being projected that a staggering 8,640 stores will close in America by the end of this calendar year. Singapore Tatler | September 2017. The group, owned by Bain-Capital, has more than $1 This is the 2017 research paper. So far in 2017, nearly 7,000 store closure announcements have been made, up more than 200 percent from a year ago, CNBC reported, citing FGRT. The Chart of the Week is a weekly Visual Capitalist feature on Fridays. Americans started throwing around the term “retail apocalypse” in earnest in the same month as retail-trade employment began to slide from its all-time peak in January 2017. The reality is retail has grown over $122b in sales in the US this year and retailers have opened thousands of stores more than they have closed. Chart: Retail Apocalypse 2017. By Matt Townsend, Jenny Surane, Emma Orr and Christopher Cannon for Bloomberg. The "Retail Apocalypse" May Last 2 More Years It could only get worse before it gets better. Sadly, our ongoing retail apocalypse appears to only be in the early chapters. He provides solutions to survive the coming retail apocalypse. In other words, there is room for much ecommerce growth. The industry’s response to that kind of doomsday description has included blaming the media for hyping the troubles of a few well-known chains as proof of a systemic … John Postle, vice president of retail at Marina Bay Sands, tells Hong Xinyi why The Shoppes is thriving amid a bleak global outlook for bricks-and-mortar stores Hong Xinyi. ‘Retail apocalypse’ now: Analysts say 75,000 more U.S. stores could be doomed. While nearly 5,000 locations are shuttering in 2019 alone, 2018 saw massive closures that included industry stalwarts Toys R Us, Sears, and KMart, just to name a few. It found that for every chain with a net closing of stores, 2.7 companies showed a net increase in store locations for 2017. A retail apocalypse is upon the American retail market, prognosticators say. The steady rise of online retail sales should have surprised no one. Another day another bankruptcy in the retail sector. Gregg, Family Christian Stores and The Limited all going out of business entirely. The ongoing retail apocalypse unfolding in Lower Manhattan predates the pandemic, and was widely attributed, in part, to the ongoing struggle of brick-and-mortar stores to compete with online retailers, such as Amazon. Getty Images/Spencer ... Main streets and all but the high-end malls are looking dismal in what many have dubbed the “retail apocalypse.” Store closures and the retail “apocalypse” haunted the retail industry this year and the pain reportedly is expected to keep coming. That would shatter the old record by more than 20 percent. Mark Pilkington is a leading retail strategist specialising in the future of the retail industry. The term "retail apocalypse" began gaining widespread usage in 2017 following multiple announcements from many major retailers of plans to either discontinue or greatly scale back a retail presence, including companies such as H.H. What Retail Apocalypse? Payless ShoeSource filed for bankruptcy in April 2017 and closed 400 of its stores. OXFORDSHIRE, United Kingdom — 8,642.The number appeared unambiguously on the first slide of a presentation by Doug Stephens, retail industry futurist, founder of Retail Prophet and author of “Reengineering Retail: The Future of Selling in a Post-Digital World.” 8,642 is the number of stores closed this year in the US in what Stephens dubbed a “retail apocalypse.” The report, Debunking the Retail Apocalypse, was released on August 30, 2017. Nordstrom was unable to go private in 2017 due to the retail apocalypse. In fact, nineteen brands have announced the opening of a total of 2,861 stores in the first half of 2017. In an in-depth report published in the fall of 2017, Bloomberg reported that $1.9 billion in high-yield retail borrowing would come due in 2018. ... Debunking The Retail Apocalypse $ 0.00. WITH OVER 20 YEARS of experience in the retail sector under his belt, John Postle has a very understandable occupational hazard—whenever he … However, online sales have climbed each and every year since then, even through the Great Recession. Unsurprisingly, retail defaults reached an all-time high in the first quarter of 2018. As a result of this retail apocalypse, 167 Target stores are due to close. Much has been written about the “retail apocalypse.” While the US economy has been going through a general recovery, retail stores are struggling to keep their doors open. However, online sales have climbed each and every year since then, even through the Great Recession. Three years ago (2017), long before COVID-19 wreaked havoc globally, the bricks-and-mortar businesses in the USA were either downsizing or closing. The steady rise of online retail sales should have surprised no one. But the retail apocalypse reflects an epic miscalculation. Posted on July 19, 2017. ... A hundred thousand retail jobs were lost from October 2016 to April 2017; in June, 1,000 stores closed in a week. Add to cart * For all license choices and descriptions, please see pricing tab below. Retail Apocalypse Brick and mortar Updated Jun 13, 2017 @ 10:20 by Rupert Hargreaves. The research reviewed more than 1,800 retail chains with more than 50 U.S. stores in 10 retail vertical segments. In this bleak "retail apocalypse," as the media has dubbed it, the internet -- specifically Amazon.com (NASDAQ: AMZN)-- has decimated traditional retail. An IHL Group report is supporting this notion […] Apocalypse in Perspective. 100,000 retail jobs were lost between October 2016 and April 2017. Earlier this week Gymboree, the US children’s clothing retailer became the latest retail causality filing for bankruptcy owing $900 million to creditors. ... 47% more than last year and ahead of the record 8,000 or so that shut down in 2017. Party City is closing 45 of its 870 stores in 2019, up from its usual 10 to 15 closures each year. In the next five years, one out of every four malls is projected to close, according to an analysis by Credit Suisse. In this bleak "retail apocalypse," as the media has dubbed it, ... Online sales are expected to reach $107.4 billion during the 2017 holiday season, according to … They called it retail apocalypse. Through June 2017, U.S. retail sales were up about 4 percent compared to the first six months of 2016, according to U.S. Census Bureau data released July 14, 2017. ... 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