A casual observer could be forgiven for thinking that the brick-and-mortar retail apocalypse is upon us. Reports of retail bankruptcies and store closings abound, and that was before the pandemic that has seen more than 15,000 U.S. retail locations shutter in just the past two years. Without proper context, it’s no wonder some are hearing retail’s death rattle.
And while it can feel apocalyptic if your store is closing, it might surprise you to hear that total retail sales in the U.S. were up more than 10 percent in 2021 to well over $5 trillion. Globally retail sales are projected to top $30 trillion by 2025. Data that puts the lie in the “retail is dying” narrative. Read more at The Hill.