“Our Retail Marshall Plan.”
The eeriness of the whole situation may leave permanent marks on consumers and business-decision makers.
Local governments end up buying dying malls to keep them from becoming dead zones.
What’s astounding many people: ecommerce growth is not leveling off, but keeps surging at blistering rates.
Another overvalued money-losing unicorn in a lo-tech ho-hum business wobbled out the IPO window and crashed.
In total, 2,000 tech, admin, and management jobs to be cut and offices closed around the country. In addition, one-fifth of Macy’s stores to close. Brick & Mortar Meltdown.
Another money-losing, cash-burning, over-hyped unicorn in a ho-hum low-tech business (bedding retailer) tries to make it out the IPO window.
Brick & Mortar melts down on mall owners. So “repurpose” malls into housing?
But even red-hot online sales cooled off late in the year as consumers turned sour.
Ticket sales plunged 31% per person on average since 2002. You can raise ticket prices only so much before the strategy backfires.