Forbes Magazine reports that so far this year there have been more big retail store closings (5,944) than there were for all of 2018 (5,864).
As online shopping becomes more popular, brick and mortar stores suffer declining sales. And the giants of the retail industry are feeling the pinch. Payless has closed all 2100 of their stores. Sears has filed for Chapter 11 bankruptcy and is closing numbers of stores as they try to recover. Payless and Henri Bendel have gone out of business completely and other familiar names like Victoria’s Secret, J. C. Penney, Gap, and Abercrombie and Fitch are downsizing in the face of poor bottom lines.
When a mall loses its anchor store, it often finds it difficult to replace it, and so some of the mid size malls have simply closed and been torn down.
And if we are to believe Jeff Bezos, soon malls will be history.
Now I don’t particularly like malls, but it somehow doesn’t seem right that Jeff Bezos should control all of retailing!
I’m feeling guilty about all this because I buy everything online, mostly from Amazon. Truth be told, I am an Amazon junkie!
I mean how can you not love Amazon? You want (need) something? Just search, click, and lo! It appears on your doorstep, sometimes the next day. And shipping is free if you are a prime member, which I most certainly am.
I really shouldn’t be aiding and abetting the further growth of this behemoth, should I?
Still, I didn’t like it that that know-nothing loud mouthed congressperson prevented Amazon from locating in New York.
You see my problem. When a person’s beliefs contradict their behavior they are said to be sufferiing from cognitive dissonance. Apparently I’ve got it bad.
Psychologists tell us that in such cases, one thinks up excuses to ease the discomfort.
I don’t drive, so I can’t get to the mall. Even if I took the bus, I couldn’t carry the large packages home from the bus stop and Uber costs too much. Besides, I am a child of the Great Depression and can’t be expected to pay a high price, if a cheaper price is available. (And Amazon almost always has cheaper prices.)
There now, I feel much better.