(Photo by: Lindsey Nicholson/Education Images/Universal Images Group via Getty Images)] ‘Companies can mitigate the risk of store closures by using sound operational processes, developing deep customer loyalty, creating a great working environment, and driving marketing initiatives that resonate with the target market,’ Kohan told Newsweek regarding the research findings.
Store closures in 2025 projected to double from last year to 15,000 Thousands of stores closed across the US in 2024 and the trend is projected to continue this year – only at double the rate.
‘Although store closures may outpace store openings this year, the consumer will continue to shop in physical stores which will remain the dominant channel in retail,’ Kohan said.
(Photo by: Lindsey Nicholson/UCG/Universal Images Group via Getty Images)] So far this year, more than 2,000 stores have already gone out of business, which is a 335% year-over-year increase, according to the research group cited by Time Out earlier this week.
Department store giant Macy’s last month confirmed it will close 66 stores across 22 US states this year as part of its Bold New Chapter strategy.
