The transition from brick and mortar has been one we’ve anticipated for years, and this process is not without its fair share of growing pains – especially for companies whose structure makes it harder for them to adapt to this massive change in consumer behavior. As of right now, there are around 5,000 slated store closures for 2019, which affects companies in all aspects of retail. From Tesla to Payless Shoes, companies around the world are closing stores left and right in 2019.
Here are just some of the highlights from the list of store closures planned for this year:
- Gap – will close 230 stores over the next two years
- Victoria’s Secret – will close 53 stores
- Abercrombie & Fitch – will close 40 stores
- Telsa – is mulling plans to close nearly all stores in massive switch to online sales
- Charlotte Russe – will close all stores after bankruptcy
- Payless Shoes – will close all 2,500 stores after bankruptcy
- Gymboree – will close all 800 stores after bankruptcy
- Family Dollar – will close 390 stores
The team at Moneywise.com recently compiled a fascinating list of retailers’ planned store closings in 2019, and the list serves as a real eye opener for those unfamiliar with these trends. This is information UnFranchise Owners really need to be aware of because this changing trend to online shopping has a direct impact on your growth and success as UFOs, and ultimately makes our business more empowering.
Our business was designed to capitalize on the online shopping revolution, and represents an economic opportunity unlike any other, with the propensity to generate an ongoing income based off the things people already have to buy anyway. We give people the means to not only shop smarter, but to also leverage the online shopping revolution to establish entrepreneurial success – even during a time where changing consumer trends are leaving many businesses in the dust!