Retail Apocalypse

The retail apocalypse or retailpocalypse is the closing of a large number of North American brick-and-mortar retail stores, especially those of large chains, starting in 2010 and continuing onward.[1][2] Over 12,000 physical stores have been closed, due to factors such as over-expansion of malls, rising rents, bankruptcies of leveraged buyouts (LBO), low quarterly profits outside holiday binge spending, delayed effects of the Great Recession,[2] and changes in spending habits. North American consumers have shifted their purchasing habits due to various factors, including experience-spending versus material goods and homes, casual fashion in relaxed dress codes, as well as the rise of e-commerce,[3] mostly in the form of competition from juggernaut companies such as Amazon.com and Walmart. https://en.wikipedia.org/wiki/Retail_apocalypse