Run for cover! The “Retail Armageddon” is upon us. At least, that is, if we’re to believe all of the business pub headlines this holiday season. No doubt, things definitely appear to be at their most dire when you’re strolling through the mall, bopping along to “Jingle Bells” and passing shuttered storefront after shuttered storefront. Macy’s, Sears, The Limited, Wet Seal, Radio Shack — the list of major retailers that are closing locations or cashing in their chips altogether seems to go on and on.
It’s an objectively scary time for brick-and-mortar retailers. This disruption is the acceleration of a shift years in the making, as consumer shopping behavior has continued to move online and as the Amazon behemoth has continued to swallow market share in retail sector after retail sector.
No matter your industry — financial services, hospitality, transportation, you name it — there’s an overarching sense that Silicon Valley is coming to eat your lunch. Right now, that’s particularly the case with retailers, whose sales declines and store closings are in a harsh spotlight during the holiday season.
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