Closing Shop Tide Is Coming Again. It Is Estimated That By The End Of The Year, There Will Be 1.2 Retail Stores Closed.

The decline of the retail industry has not shown any signs of slowing down.

A new report by Coresight research, a global market research firm, shows that the number of stores that has been closed worldwide has increased by 29% over the 8 months of 2019, compared with the same period in 2018.

According to Coresight Research data, retailers' earnings reports, bankruptcy applications and other records, more than 7600 retail outlets are scheduled to close this year, and thousands of stores have been closed.

Payless ShoeSource, a discount shoe giant that has filed for bankruptcy, closed its remaining stores in the United States at the end of June (about more than 2500), accounting for about 37% of the total number of closed stores.

Sales and liquidation of other brands are expected to continue. Coresight estimates that by the end of this year, the number of total retail outlets worldwide may close to 1.2.

Coresight, which has offices in Manhattan, London and Hongkong, China, said that there were 5864 retail outlets closed in 2018, including all the Toys R & D stores and hundreds of Kate Matt (Australia's low-priced chain supermarkets) and Sears stores.

Coresight found that 2017 was the most closed year for stores, with 8139 stores closed. This includes early Payless's closing shop tides, all the stores of American consumer electronics retailer Greg HH, and hundreds of Sears and Kat Matt.

A April report by UBS Securities shows that the pain of retail industry is expected to continue for the next few years. Rui Yin (UBS) analysts said that if the penetration rate of e-commerce increased from 16% to 25%, by 2026, the number of stores that still need to shut down in the world will reach 7.5.

By August, though retailers had closed thousands of stores, the drugstore was basically not affected. However, as these companies' sales of convenience products drop, and people begin to purchase prescription drugs online, this may change.

The US retailer and pharmacist, on Tuesday, announced that the company plans to close 200 stores in the United States after it plans to close 200 stores in the UK. Wall Green said in a statement that the company currently has about 1 stores in the United States, which accounts for less than 3% of the total number of stores, and expects that the impact on customers and patients will be minimal. The company said it expects to keep most of its employees in other nearby stores.

A spokesman for Wall Green said the company did not plan to publish all the list of closed stores, and refused to disclose more details about which stores to close.

Analysts have long worried about the number of drugstores in the United States. In some cities, CVS and CVS are almost full of blocks. To make matters worse, consumers are increasingly shopping online, while fewer and fewer shops are shopping.