Many Retail Store Closing in the US, The Numbers Don’t Lie
Independent retail store owners had better be paying attention.
Analysts agree that 75K stores could shutter by 2026.
Those are incredibly sobering numbers for retailers that have failed to see the clear trends in the “retail dive” that will unfold within the next few years.
My Dad used to tell me that hope is not a strategy.
It is incredible how many Independent Retail Owners are still hoping that these trends “just go away” or that “things will get better” for their brick and mortar store.
You may not have said this out loud, but maybe inside your head?
Those that have been smart and forward thinking about the life cycle of their business considering all the analysts predictions have been getting the advice and expertise from me, a store closing specialist or Retail Sales PRO, to plan for the future.
After carefully considering your unique situation, we can devise a personalized exit strategy for your business.
So that you can close profitably with your head held high.
I can tell you that I am seeing the same news that you are and those without my expert advice in running a store closing sale, will not fare well.
Knowing the marketing and promotion to drive customers through your doors and the precise time to drop prices to create a buying frenzy are just a few of the highly skilled pieces of knowledge I provide.
Running a sale like this is like no other you have ever had before.
Still questioning whether you need to close your doors?
UBS analysts are seeing e-commerce taking an even greater share in the coming months and retail sales growth slowing.
They continued by stating those retailers not willing or unable to make vast and costly improvements in their stores, merchandise, customer service and online presence will feel the biggest sales decline as online penetration will continue to rise.
“To put this in perspective, [Amazon’s North America] revenue represents the equivalent of 30k retail stores & it added the sales of 7.7k stores in FY’18.” UBS analysts, led by Michael Lasser.
The types of stores that they predict will see the largest risk of declining sales and therefore will be at highest risk for forced closure will be those that carry apparel, consumer electronics, home furnishings and home improvement stores.
The numbers don’t lie.
- The analysts numbers and those in your bank account. Those Independent Retail Owners that ignore them will continue to see their sales and dreams vanish.
- Don’t wait to be in a position to HAVE to close your store just to stop the financial hemorrhage of cash.
Let’s talk about your situation and how we can work together to bring your business to a successful close.
You get one shot at closing your store the right way.
By that I mean profitably and with me guiding you in every aspect of the sale.
As one of my clients put it, “You ran my sale, so that I could run my business. That gave me great peace of mind starting my new chapter.”