About one in 10 retailers listed on stock exchanges have gone bankrupt since 2008, and 40 percent of retailers have seen their profit margins shrink during that time.
The financial value of shopping malls as real estate has fallen by almost a third since 2016.
Analysts predict that half of remaining shopping-mall department stores will shutter by 2025, and 500,000 more retail jobs will disappear.
E-commerce and online retail business are still growing, but the benefits flow to a relatively small number of companies at the expense of the sector overall.
E-commerce accounted for 11 percent of retail sales, but only about 25 percent of the products shoppers typically purchase are bought in malls and storefronts. Analysts expect that share to rise to a third by 2024.
Amazon leads the sector, with founder Jeff Bezos calling the 2019 Christmas sales season “better than ever.” Amazon is forecast to report a 19-percent increase in fourth-quarter revenues from 2019, reaching a record $86 billion.
TRENDPOST: The “Pall on the Malls,” which Gerald Celente had long forecast in his bestselling book, “Trends 2000,” will continue.
However, people will still shop in brick-and-mortar stores, particularly those in organic growth cities that offer products, services, and experiences with uniqueness and individuality that big chains cannot provide.
