The retail apocalypse refers to the closing of a large number of American retail stores beginning in 2016. Over 4,000 physical stores are affected as American consumers shift their purchasing habits due to various factors, including the rise of e-commerce.
Major department stores such as J.C. Penney and Macy’s have announced hundreds of store closures, and well-known apparel brands such as J. Crew and Ralph Lauren are struggling with profitability. Of the 1,200 shopping malls across the US, 50% are expected to close by 2023.
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