- Don-Alvin Adegeest |
What retail apocalypse? More than five retail chains are opening stores for every retailer that is closing stores in 2019, according to new research from IHL Group.
Even the troubled apparel and department store sector saw an increase of 3.7 percent compared to 2018. The company also reports that the number of chains adding stores in 2019 has increased 56 percent, while the number of closing stores has decreased by 66 percent in the last year.
Since 2017, apparel and department store chains have seen the net closure of 9,651 stores. During this same period, all other segments represented 18,226 net new openings. Seven of the nine segments have a net increase in stores for 2019, and only apparel and department stores show a net decline in stores among all the retailers in the segment.
The report, called Retail’s Renaissance – True Story of Store Openings/Closings, can be found www.ihlservices.com.
IHL Group is a global research and advisory firm headquartered in Franklin, Tennessee, that provides market analysis and business consulting services for retailers and companies that market to the retail industry.