Retail apocalypse debunked
Matthew Shay, the CEO of the NRF commented on the so-called “retail apocalypse”, which made seemingly endless headlines over the past year, despite reams of evidence to the contrary. Media and various ‘experts’ declared retail dead, dying or totally disrupted by e-commerce. Shay pointed out that once one considers accurate, complete data on retail overall, it becomes evident that the industry is doing quite well. True, there have been store closings and bankruptcies — that’s inevitable in business. But there are also new entrants and store openings. Retailers are changing, adapting and transforming to compete and better meet customers’ needs. That’s a sign of a healthy, growing and evolving industry. Not a dying one.