![]() “It’s critical to their success as a retailer. “It’s important for retailers to have both (an online presence and a retail presence),” Ms. ![]() An ironic sign of the ever-changing times: is now opening stores. “They over-expanded in the past … before e-commerce became possible … and now they are looking at profitability and right-sizing.” But don’t expect all stores to go away, she added. ![]() “Retailers are reinventing themselves,” she said, adding that she expects the wave of store closures to continue. Karen Raquet, Philadelphia-based director of retail property management for investment management firm Jones Lang LaSalle Inc., which specializes in commercial real estate, said store closures are in line with the trend of “right-sizing” after overestimating the demand for store space. (Stores) used to be the one place where you could get a lot of brands and items under one roof. “The other big driver is the appeal has vanished for department stores. Kearney Inc., a management consulting firm. “People are shopping online and (that business is) growing so fast that it is cannibalizing other businesses,” said Greg Portell, Chicago-based lead partner in the retail practice of consultancy for A.T. This change in the retail business model, coupled with overexpansion of stores in the past two decades, led to the current challenges facing the retail-store industry, experts say. At its root, retail industry experts blame the fall in the number of traditional stores on the ease of click-and-buy, unlimited supply, two-day deliveries and free returns.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |