Retail isn’t on its deathbed, and the internet isn’t the killer, despite the flurry of condolences offered since the first of the year.
Changing and changing fast, across the country, across platforms and across generations? Yes. Shot through by e-commerce, perhaps, but not dying, said retail property specialist Jim Parrack of Price Edwards & Co.
“In a bad year, 7,000 stores close. We may have 7,000 stores close this year. In a good year, 4,000 stores close,” he said Wednesday at the Mayor’s Development Roundtable at Cox Convention Center.
Flashing a slide of expected casualties the first half of the year, 552 for Radio Shack, 400 for Payless, 138 for J.C. Penney, among many other chain stores, he said: “Look at the stores that are closing. Do you really want to buy anything from these retailers?”
The internet isn’t the lone gunman, either, he said, although it is constantly being called in for questioning.
“There are lots of reasons that retailers are closing, including competition from the internet, but you still have to sell what people want, and the way they want it,”…