The death of retail in America
September 28, 2017
With the rise of online shopping, retail stores across the U.S. have encountered the great endeavor of keeping their doors open to the public. In a world where efficiency and speed outweigh the joys of venturing into a department store, businesses such as Toys ‘R’ Us, J.C. Penney and Macy’s are closing their doors as a result of dwindling sales across their franchises.
Outlets, such as Amazon, have consumed the wallets of buyers across the nation, leaving retailers in the dust. Struggling to keep department stores alive, many retailers have resorted to contrasting marketing techniques. Despite escalating sale promotions and broadening digital advertising by big name department stores, the growing population continues to flock to online businesses – creating hysteria for the retail industry.
Toys ‘R’ Us is among the most recent companies to clash with online businesses. The U.S. toy store has failed to keep up compared to online sales, forcing the company to file for bankruptcy. However, the online threat is not the only catalyst in its debt, as an increasing desire for electronic versions of toys has engulfed the standard form of entertainment. While its online stores have been able to adapt to the ecommerce market, the department stores have not obtained enough revenue to keep its industry alive.
As buyers continue the trend of shopping online, the retail battle will prolong. The world continues to grow in innovation, and toys that have been cultivated by children in years past are slowly losing relevance. The death of retail in the U.S. is here, and while the growth of the online market progresses, it will not slow down anytime soon.