Sears, Macy's, and J.C. Penney are among the national retailers who've announced substantial store closings recently. Retail industry experts believe the closures are just the beginning of an approaching "tsunami" of shrinking and shuttering stores.
Krystina Gustafson looks at the coming "tsunami" of store closures as North America transitions to the "next era in retail".
"Shoppers will likely see an average decrease in overall retail square footage of between one-third and one-half within the next five to 10 years, as a shift to e-commerce brings with it fewer mall visits and a lesser need to keep inventory stocked in-store, said Michael Burden, a principal with Excess Space Retail Services."
Wells Fargo analyst Paul Lejuez believes "it makes more sense for a retailer to have half the number of stores they once thought appropriate, and instead concentrate on a small store network and e-commerce business."
FULL STORY: A 'tsunami' of store closings expected to hit retail
Rethinking Retail Space in the Wake of COVID-19
As e-commerce boomed and people sought outdoor shopping and dining options, the pandemic accelerated the decline of massive, merchandise-oriented retail spaces and indoor malls.
The End of the Mall? Navigating the Shifting Retail Landscape
More online shopping means fewer consumers are spending money at brick-and-mortar stores, with suburban malls hit especially hard. But municipalities are looking for creative strategies to navigate a post-mall world.
Credit Suisse Says One in Every Four U.S. Malls Will be Gone by 2022
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Pennsylvania Mall Conversion Bill Passes House
If passed, the bill would promote the adaptive reuse of defunct commercial buildings.
Planning for Accessibility: Proximity is More Important than Mobility
Accessibility-based planning minimizes the distance that people must travel to reach desired services and activities. Measured this way, increased density can provide more total benefits than increased speeds.
World's Largest Wildlife Overpass In the Works in Los Angeles County
Caltrans will soon close half of the 101 Freeway in order to continue construction of the Wallis Annenberg Wildlife Crossing near Agoura Hills in Los Angeles County.
Eviction Looms for Low-Income Tenants as Rent Debt Rises
Nonprofit housing operators across the country face almost $10 billion in rent debt.
Brightline West Breaks Ground
The high-speed rail line will link Las Vegas and the Los Angeles area.
Colorado Bans No-Fault Evictions
In most cases, landlords must provide a just cause for evicting tenants.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
Tufts University, Department of Urban and Environmental Policy & Planning
City of Universal City TX
ULI Northwest Arkansas
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