How will a ‘retail apocalypse’ affect your property investment?
- Online shopping is forcing retailers to cut jobs
- Retail is one of the nations’ biggest employers
- Closing stores may impact desirable locations
It’s summer, but on the minds of retailers, the focus is on the holidays. The upcoming holiday shopping season will be even more crucial as retail stores look for any signs of hope during these tumultuous times for the industry.
Unless you’ve been living under a rock (or refuse to shop online), you’ve probably seen a shift in retail. There’s been a lot of talk of a retail apocalypse as some of the biggest retailers in our nation close hundreds of stores. Retailers like Toys “R” Us, HHGregg, JC Penney, Macy’s, Sears, Abercrombie & Fitch, and Gap have been closing multiple locations. And while some retailers, like Dillard’s, have embraced a different approach to business, it’s difficult to escape the impact of online shopping.
“So, what’s it to me?” you might be asking.
If you own rental properties, the retail apocalypse could have an impact. You might not feel it right away, but it’s something to bear in mind. Continue reading