The 2008 recession may have had a stronger impact on the retail world than once previously thought.
When this turbulent time for retailers hit, the world was in the midst of an expanding eCommerce growth period. As such, more brick-and-mortar stores are projected to close this year than during the economic downturn from nine years ago.
Here are the numbers:
2,880 | Number of store closings so far in 2017
1,153 | Number of store closings during the same time period in 2016
8,640 | Estimated total number of store closings in 2017
6,200 | Peek number of store closings in 2008
10 percent | Amount of total physical U.S. retail landscape estimated to close in 2017