#retailIndustry

[vitelglobal]

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[rydot123]

Unveiling the Power of Forecasting: A Glimpse into Applications Across Industries 

Explore the various methods of forecasting, including qualitative, quantitative, and machine learning approaches. Discover their applications, advantages, and limitations, backed by industry reports and expert insights. 

[visionarycios]

Store Closures Reach Record High as U.S. Retail Landscape Shifts

https://visionarycios.com/wp-content/uploads/2025/01/1-Store-Closures-Reach-Record-High-as-U.S.-Retail-Landscape-Shifts-Source-massmarketretailers.com_.jpg

Source: massmarketretailers.com

Store closures across the United States surged to their highest level since the pandemic, with significant closures in 2024, and more expected in 2025. A new report reveals that major retailers such as Party City, Big Lots, Walgreens, and Macy’s have been at the forefront of this wave of closures, as a growing number of stores are being shut down due to changing consumer habits and the rise of e-commerce.

A Sharp Increase in Retail Store Closures

The number of retail store closures reached a peak in 2024, with 7,325 locations shutting down, according to a report by Coresight Research. This marks the sharpest increase in closures since 2020, the year the COVID-19 pandemic began when nearly 10,000 stores were closed. As the retail landscape continues to evolve, more closures are expected this year. By January 10, 2025, retailers had already announced 1,925 store closures, and projections estimate that this number will rise to around 15,000 by the end of the year.

Among the companies closing the most locations are Party City, Big Lots, Walgreens Boots Alliance, 7-Eleven, and Macy’s. These closures are part of a broader trend where certain retailers are struggling to stay afloat while others, like Amazon, Walmart, and Costco, continue to thrive by capitalizing on consumer demand for convenience and value.

Bankruptcy Surge Contributing to Closures

In addition to shifting consumer preferences, an increase in retail bankruptcies has contributed to the high number of store closures in 2024. According to Coresight’s data, there were 51 retail bankruptcies in 2024, nearly double the number from the previous year. Notably, Party City and Big Lots have been forced to close many of their locations as part of bankruptcy proceedings.

Despite strong consumer spending, which rose 4% during the holiday season in 2024, the dollars are flowing to fewer retailers. Major chains that have adapted to evolving shopping habits have benefited the most, while smaller, specialty retailers have struggled to remain viable.

Struggling Specialty Retailers

Specialty retailers have been particularly hit hard by the ongoing changes in consumer behavior. Companies like The Container Store, Big Lots, and Joann have filed for bankruptcy protection. The Container Store’s filing follows a broader trend where smaller retailers close stores or downsize due to shifting demands and market pressures.

It’s not just specialty stores that are feeling the squeeze. Companies like CVS Health, Dollar Tree’s Family Dollar, and rue21 have also experienced large-scale closures. For example, rue21, a teen apparel retailer, closed all of its stores following bankruptcy filings, further underlining the broader retail crisis.

The Impact of E-Commerce and Changing Consumer Preferences

Coresight Research attributes much of the decline in brick-and-mortar stores to the rise of e-commerce. Companies like Amazon, Shein, and Temu have significantly altered the retail landscape. In particular, Shein and Temu have seen explosive growth, generating billions in sales, with a significant portion coming from U.S. consumers.

Retail analyst John Mercer highlighted that while overall demand remains strong, it is being concentrated in fewer retailers that meet consumer preferences for convenience and low prices. He explained that smaller specialty retailers, especially those dependent on physical stores, have been unable to keep pace. Even minor declines in sales can be detrimental for retailers with high fixed costs like leases and labor.

Shifting Malls and Shopping Centers

The rise in store closures has also been linked to changes in mall traffic patterns. As major anchor stores like Macy’s close their doors, smaller retailers that rely on foot traffic may follow suit. Retail analysts suggest that many shopping malls and strip centers are being repurposed for other uses, such as fitness studios, urgent care clinics, or apartments, rather than being filled with new retail stores.

David Silverman, a retail analyst at Fitch Ratings, noted that population shifts and evolving consumer habits have led to a rethinking of retail store locations. The COVID-19 pandemic had already shifted where and how people shop, with many retailers reassessing their footprints in response.

Store Openings Still Strong

Despite the challenges faced by many retailers, some chains continue to expand. In 2024, store openings in the U.S. increased to 5,970, the highest number recorded since Coresight began tracking retail data in 2012. Leading the charge were Dollar General, Dollar Tree, 7-Eleven, and Five Below. The retail advisory firm predicts that 2025 will see approximately 5,800 new stores opening across the U.S.

A few key players are also pushing forward with store expansions, including Aldi, JD Sports, Burlington Stores, Pandora, and Barnes & Noble, which are expected to lead the list of store openings in 2025.

The Outlook for Retail

The U.S. retail industry is at a crossroads, with traditional stores closing in large numbers while e-commerce continues to reshape the marketplace. Retailers are grappling with how to adapt to changing consumer preferences and the growing influence of online shopping. As store closures continue to rise, companies will need to adjust their strategies, embracing new approaches to stay competitive in a rapidly changing environment.

[mobiosolution]

Discover how automation in retail empowers retailers to achieve higher efficiency, scale faster, and deliver exceptional customer experiences for sustainable success.

[jamesmilleer2407]

Top-Performing Retail Stocks on NASDAQ : Market Insights

Explore insights into top-performing retail stocks listed on Nasdaq. Understand how these companies are influencing trends and shaping the retail sector within the stock market.

For more information visit at : https://kalkinemedia.com/us/stocks/retail

[spadesurvey]

[waywardunknowntheorist]

Unmanned Convenience Store Market - Revolutionizing Retail

The unmanned convenience store market is an innovative one, showing a view of what the future could bring for shopping. With developing technology and changing consumer affinities towards convenience and speed, unmanned convenience stores are fast emerging as innovation game-changers. Fitted with state-of-the-art artificial intelligence, IoT, and automation, unmanned convenience stores are providing a seamless, cashier-less shopping experience in sync with modern consumers' manic paces and on-the-go lifestyles.

The very core of the market lies in the growing need for convenience. Customers want things to be performed right away and effectively, which unstaffed stores do. There are no queues, and naturally, in such stores, one can gradually get rid of the idea of how cumbersome the whole purchasing process can be. All they need to do is enter the shop, take whatever they need from the shelves, and take off. This frictionless experience finds a great following, in particular, in urban areas where everyone's on the go and looking for solutions that will help them save time.

Technology is probably the biggest driver of unmanned convenience stores. The latest sensors and cameras that track inventory at stores and the movement of customers, coupled with AI-driven algorithms, help in preventing thefts. These technologies raise security and also offer a unique shopping experience. This helps maximize the potential revenue by offering the retailers the ability to be available to more customers 24/7. Next, the scope of an unmanned convenience store is not just related to food and beverages; rather, in actuality, it can be oriented towards any product category, from electronics to personal care items, hence gaining esteem while serving different segments of customers. This very versatility opens new ways for growth and diversification avenues in retail.

Sustainability also fuels unmanned convenience stores. Most of these stores are put up using energy-efficient systems and smart inventory management that eliminates wastage, and to this effect, it's positive on the environment. The sustainability aspect again will be another reason why unmanned stores will continue to thrive, considering that consumers are continually turning to be pro-environment.

[kodytechnolab]

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[aliciashontawearfashion]

AliciaShonta's Insights: From a Personal Stylist, POV

I started working in retail because it was something i was passionate about and wanted to build my client interaction 100%. I am a Fashion and Personal Stylist.

How did I become a Personal Stylist Editor, Writer: AliciaShonta, CEO of AliciaShonta Fashion House (ASFH) July 2024 “Hard work is the result of strong discipline.” My passion for fashion emerged at the tender age of seven when I started dressing myself. Coming from a family predominantly composed of women, we all share a flair for fashion. The men who influenced my style were my brothers,…

[visionarycios]

Macy’s Discovers $154 Million in Hidden Expenses by a Single Employee

https://visionarycios.com/wp-content/uploads/2024/11/1-Macys-Discovers-154-Million-in-Hidden-Expenses-by-a-Single-Employee-Source-wfxrtv.com_.jpg

Source: wfxrtv.com

Macy’s revealed on Monday that a single employee was responsible for significant accounting irregularities, leading the company to delay its quarterly earnings report initially scheduled for release on Tuesday.

The company uncovered that the unnamed employee intentionally concealed up to $154 million in expenses over nearly three years. This discovery prompted an independent forensic accounting investigation. According to Macys, the employee, who is no longer with the company, deliberately made erroneous accounting entries to hide costs associated with small package deliveries.

Investigations and Findings

Macy’s has not disclosed the motive behind the employee’s actions. However, the hidden expenses represented a small portion of the $4.36 billion the company spent on delivery services between the fourth quarter of 2021 and its most recent period. Despite this, the irregularities were significant enough to postpone the company’s full quarterly earnings report to December 11.

Macys clarified that the false accounting entries did not impact the company’s cash management activities or vendor payments. So far, investigators have identified no other employees involved in creating the fraudulent entries.

CEO’s Statement

Macy’s CEO Tony Spring emphasized the company’s commitment to ethical practices. He stated that while the investigation is ongoing, the company remains focused on serving customers and implementing its strategies for a successful holiday season.

Investor Concerns

The accounting issue has raised concerns among investors and analysts, particularly about the effectiveness of the company’s auditing processes. Retail analyst Neil Saunders noted that such incidents could erode investor confidence, especially given Macys already declining performance.

Macy’s stock has fallen nearly 20% this year, and news of the accounting irregularities only added to the retailer’s challenges. Shares dropped nearly 3% following the announcement.

Preliminary Earnings Report

In a preliminary earnings release, Macys reported a 2.4% decline in quarterly sales, amounting to $4.7 billion. The drop was attributed to weaker digital sales and reduced demand for cold-weather clothing, as the country experienced one of its warmest falls on record.

While Macys sales continue to face challenges, its higher-end stores, like Bloomingdale’s, performed better, with sales increasing by 1.4%. Bluemercury, its luxury beauty retailer, also saw a 3.2% rise in sales.

Future Challenges

The decline in overall sales reflects ongoing struggles for the middle-market retailer. Analysts suggest that while Macys has made efforts to improve performance, the company still faces challenges across many of its stores. Macys has already announced plans to close hundreds of underperforming locations as part of a broader turnaround strategy.

In July, the 165-year-old retailer rejected offers from private investors seeking to take over the company, opting instead to pursue its own transformation plan.

As Macy’s works to address the fallout from this accounting issue, it faces mounting pressure to rebuild trust with investors and improve its operational performance. The incident underscores the importance of robust internal controls as the company navigates a competitive retail environment.

[designeree]

Rise & Fall Of Big Bazaar | Case Study | Dr Vivek Bindra

In this video, Dr Vivek Bindra shares a case study of India's leading retail chain Big Bazaar and explains the reasons behind its dramatic rise and fall. Dr Bindra also compares Big Bazaar with D-Mart in the same market and provides the reason behind D-Mart emerging as a successful player.

[vidyajyotieduversity]

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