Story perspectives
Retail Apocalypse: 15,000 Store Closures Expected in 2025
2/17/2025
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Story summary
- Retailers brace for a tough 2025 following 2024's record 7,325 store closures, including Joann's 500 planned closures.
- Experts forecast an additional 15,000 closures in 2025, fueled by inflation and the rise of online shopping.
- Coresight Research notes a significant shift in retail, urging stores to meet evolving consumer expectations.
- Companies like JCPenney are adopting innovative strategies, including partnerships, to improve customer experience and ensure survival.
