B2 High-Intermediate US 400 Folder Collection
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Back when Main Street was the retail hub, mom and pops stores were in their heyday.
Then a new kind of shopping center sprouted up in the suburbs, malls.
In 1956, the first fully enclosed shopping mall opened in the suburbs of Minneapolis, giving way to hundreds of shopping centers in towns across the country.
Soon after came the category-killers such as, BARNES & NOBLE, HOME DEPOT, and TOYS'R'US, as well as super stores like Walmart and TARGET.
Mom and pops were no match with these giant retailers that offered everything under one roof at low prices.
The building boom left the US with too many retail stores.
We have more than five times the gross leasable space per capita as the UK.
Except for a few spikes around Easter and Christmas, foot traffic to malls has been declining since 2014.
Just ten years ago, 24% of people polled by America's research group said they noticed mall store vacancies.
Today, that number has doubled.
Big box stores located in strip centers aren't immune from the shakeout either.
Nearly 20 retail chains, including Sports Authority and RadioShack, have filed for bankruptcy in the last two years.
The new winner?
About 27% of survey respondents said they plan to purchase more from the online retailer this year.
E-commerce in general is capturing retail shoppers.
In the final quarter of last year, online sales accounted for 17% of all retail sales, more than three times what it was a decade ago.
No one expects brick and mortar stores to go away entirely, but where we will be a decade from now?
It's a question no one can really predict.
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A Brief History of Retail

400 Folder Collection
michelle published on August 18, 2019    genie_chen translated    genie_chen reviewed
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