Retail Apocalypse
The term "Retail Apocalypse" refers to the significant decline of traditional brick-and-mortar stores, particularly in the United States. This phenomenon has been driven by various factors, including the rise of online shopping, changing consumer preferences, and economic challenges. Many well-known retailers have closed stores or filed for bankruptcy as they struggle to compete with e-commerce giants like Amazon.
This shift has led to an increase in vacant retail spaces and a transformation of shopping habits. Consumers now prefer the convenience of online purchases, which has forced many retailers to adapt by enhancing their digital presence. As a result, the retail landscape is evolving, with a focus on experiential shopping and omnichannel strategies.