2021 was a time of change for retailers, with store opening more than store closures

Big retailers have announced 5,083 store openings compared to the closure of 5,079 stores in 2021, after nearly two years of home-based orders

source: https://ibb.co/dWQdB0Q

Just a year after a number of stores closed due to the outbreak, the store has returned, with more shops opening than closed in 2021.

This year on December 16, retailers announced a 5,083 reopening of the store compared to 5,079 store closures, indicating that retailers are reaching a balance between online and in-store purchases during e-commerce, according to Coresight Research, a global consulting firm and a research-focused research firm. and technology.

Supermarkets including Walmart, Target and Home Depot exceeded expectations for profits in the last quarter despite supply chain problems diminishing inventory. Tapestry, which owns brands such as Coach and Kate Spade, showed a resurgence of epidemics in the last quarter reporting a 26 percent increase in revenue from last year.

“The fact that sellers have more money means that they are able to stay longer in some of their rental homes and have more patience to act and think differently,” said Deborah Weinswig, CEO and founder of Coresight Research. "The thing is, you need to have a visible space to say something to the buyer."

The slow growth of store openings marks a change for retailers in this epidemic. For almost two years, brick and mortar stores have been colder between home-based orders, community-based approaches and an increase in online shopping. This has forced weak retailers and reinforced heavy metals, especially based on how companies have adapted to the new digital world before the virus strikes the world, says UBS retailer analyst Jay Sole.

"The epidemic has dragged many shops that would be closed over time," he said.

Last year, well-known retailers and department stores collapsed as a coronavirus invaded the entire country. Top store Neiman Marcus filed for bankruptcy in May. Y2K shopping mall clothing True Religion Apparel filed for bankruptcy in April. The Japanese minimalist American hip Muji-owned arm was installed in July. But by the end of 2020, all three companies were out of the collection.

"We take the existing customer relationship with the store and strengthen it digitally," Neiman Marcus CEO Geoffroy van Raemdonck told Vogue Business last September. He further added that the company "is very focused on the presence of customers, whenever and whenever they want."

Consumer demand in the store has changed dramatically in the last two decades, said Mark Mathews, vice president of research and industry analysis and the National Retail Federation. Retail stores were usually places that consumers visit to check and shop, Mathews said. However, as e-commerce increases its share of wholesale sales, the mobile store continues to be a place for consumers to browse for new products, make a return or take online orders. An annual consumer survey published in December by professional services firm PwC found that 55 percent of consumers reported shopping in stores weekly or daily compared to 36 percent of consumers who say they usually shop on their phones.

Consumer demand in the store has changed dramatically in the last two decades.

Meat shops also play a role in increasing sales, even if done online, Weinswig said. When retailers closed the brick and mortar store, online sales dropped by 50 percent on average in that market, he said. Mathews compared the concern that the popularity of ATMs would drive away bank branches. Like bank branches, thrift stores are not just working, he said.

"It's about product value," he added. "It's about creating information and interacting with the product and people who can go to Best Buy and learn about the product they are trying to buy."

Some companies that used to sell only online, such as Warby Parker, Casper, Allbirds, Bonobos and Dollar Shave Club, have now opened their own stores or started selling on portable shelves. Some previously exclusively online companies have opted to add to their site with new stores. For example, home furniture retailer Wayfair plans to open three stores in Massachusetts by 2022, bringing the total to four. Beauty brand Glossier opened a second permanent store in the U.S., Los Angeles, last month.

"It looks like the closure of most stores in the last few years has come to an end," said Brandon Isner, head of U.S. retail research and CBRE real estate investment firm. "[Digital products] now see the sale of bricks and mortar as a way to build a brand and gain new customers who may not have been able to find it online."