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Technology Stocks : Investing in Exponential Growth
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From: Paul H. Christiansen6/3/2017 1:28:54 AM
   of 1084
 
American Retail’s Fast, Furious Decline

Kevin D. Williamson May 31, 2017

One in ten employed Americans works in retail. Those jobs are going away.

After decades of rapid expansion, retail is in sharp decline, with stores closing at a higher rate today than they did during the financial crisis and recession of 2008–09. Bebe, which at its high point operated a couple of hundred shops, soon will be online-only. Clothiers such as Rue 21, Payless, and Limited are closing hundreds and hundreds of outlets. The sporting-goods business has seen a bloodbath: Gander Mountain is bankrupt and closing stores, another victim of the contraction that took down MC Sports and Sports Authority while putting serious downward pressure on the finances of the survivors.

The migration of retail out of shops and onto the Internet has been significant — last year saw online retail pass a symbolically important milestone, accounting for 51 percent of all purchases — but it wasn’t radical or unexpected. In fact, the retail building boom really kicked off at the same time as the rise of online commerce: in the middle to late 1990s. Which is to say, the retail-space bubble inflated in parallel with two other important bubbles: the dot-com bubble and the much more significant housing bubble.

nationalreview.com



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