Lauren Leach: Store Closings Could Hit 12,000 By the End of the Year – National Real Estate Investor
Lauren Leach was featured in National Real Estate Investor’s article titled “Store Closings Could Hit 12,000 By the End of the Year.”
“In my opinion, e-commerce is only one contributing factor to the excessive number of store closures,” says Lauren Leach, director of real estate advisory services at consulting and advisory firm Conway MacKenzie. “Although trending upward, e-commerce sales account for only 10.7 percent of retail sales. That tells me there are a number of other factors influencing store closures.”
Many retailers are burdened with massive debt, according to Leach. Others have gone belly-up because they have failed to reinvent and stay ahead of the trends, such as incorporating experiential marketing or adjusting price points.
“We also saw many retailers take on rapid, aggressive expansion plans where they bit off more than they could chew,” she notes.
Plus, over the years, the market saw more and more competition within each retail category, Leach adds. Not everyone could survive.