The Retail Apocalypse Is Here and It’s Killing Thousands of Stores

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Top Tier Gear USA

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They were once the juggernauts of America’s consumer economy. But with the advent of online shopping, coupled with a middle class that has less purchasing power, these stores are tanking, and they’re going to take thousands of jobs with them.

Business Insider reports that multiple retail companies are going to shutter 3,500 stores within the next few months. Payless is getting hit the hardest. The shoe retailer is filing for bankruptcy next week, and they may be closing as many as 1,000 stores. Sears is shutting down 10% of its stores, JCPenney is shutting down 14% of its locations, and Radio Shack may close as many as 552 stores.

While some of these companies are planning to give up on all of their physical stores and move into a strictly online business model, others aren’t going to be so lucky. Many of these companies may disappear entirely in the near future. Sears for instance, recently admitted that it has “substantial doubt” about its future.

The company, which employs 140,000 people, hasn’t turned a profit since 2011. So far, increasing the company’s online presence hasn’t been enough to keep the company afloat. They recently had to sell their Craftsman brand just to keep their employee pensions funded. When a company has to get rid of one of their best-selling products just to keep the lights on, you know that company is in a downward spiral that is nearly impossible to reverse.

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Contributed by Daniel Lang of The Daily Sheeple.

Daniel Lang is a researcher and staff writer for The Daily Sheeple – Wake The Flock Up!

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  • M_111

    RadioShack has been dying for years, you can get cheaper parts and more variety on eBay and Amazon. Sears should have never gotten outwardly political but their most recent demise began in 2010–they will never go back to pree-2007 days. JC Penny has been plummeting for 3 years,. It is right back to where it was in 2000. Payless shoes kill your feet, it is the ghetto of ghetto shoe stores. This doesn’t surprise me at all. You can get better shoes online with a better return policy. Blame the Internet.

    • Just an average joe

      Hell I thought Radio Shack was done years ago there isn’t a store around me at all.

      • MarkovDeBeeste

        Rat Shack is the walking retail dead. Even their cellphone business is dropping off. Go to any of their remaining brick and mortar stores and there are clearance sales on just about everything. Even their “clearance” prices are higher than what you can get the same or better stuff for online. I remember RS from the 1960s when they actually sold good stuff at reasonable prices and employed people who knew an ohm from a volt. Their final demise can’t come soon enough, and good riddance.

  • Elaine.Benes, II

    Before my daughter was born, i had not shopped Big Corporate retail since the mid-90s. Not because i was awake back then or even necessarily opposed to it, it just stopped making sense. My kid is the first person to get me in a Wal-Mart damn near ever. The kids want it all because the advertising is aimed at the 5 and up crowd. Every single thing we have ever bought by a Big Corporate name brand breaks within one week, nothing but shit-crap are they selling. More sickening proof the “consumer” is nothing but a joke to them and don’t get me started on the “food” they are selling us. If there is anyone left out there who can not see the absolute contempt and utter disregard for the people by the manufacturers and sellers of all this trash and shit-crap and the Government that allows them to do it, you are going to need to wake the fuck up. Give NONE or as little of your money AS POSSIBLE to Big Corp and let them all shut down. We do NOT need them and we never did need them but we bought into the hype. It’s over now and it’s WAY PAST TIME to shut it tha fuck down people.

    • SusanJones111

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  • The problem is retail real estate rent is up to over 100x what warehouse rent is. Shopping mall rates can be even more.
    So warehouse shippers with a website have a great advantage from the start.

    • Caroltsaunders

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    • Just an average joe

      You are right as are most of the people posting here. Just imagine no more stores to go and “look” at a product, just take the mfg’s word on how wonderful it is and long it lasts. The bottom line is if the US goes to three or four huge places on the internet the gov’t only has to control three or four companies… much easier.

      • MarkovDeBeeste

        You have a good point. When the brick and mortar storefronts go away there will be no places to go to “test drive” stuff or determine if it is right for your needs. All we’ll have to go by is advertising hype and you know how reliable advertisements are most of the time. Ragtag is right – the profits in retail can’t cover the ridiculously high rents for brick and mortar floorspace in a strip mall or shopping center. As always it’s a matter of economics and the economics of modern retail suck.

  • csfurious

    Amazon is quite powerful.

    • usaok59

      That’s the truth, too powerful. And Jeff Bezos is a big fan of all the devious ways that obama is trying to bring down the Trump administration. I quite shopping Amazon and refuse to support Bezos. I know it’s a drop in the bucket but many drops make a flood!

  • Jim Morgan

    Just remember that Craftsman tools haven’t been made in the USA for years. Now Chinese tools.