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debakshi gupta
CRM and English Skills expert
Asked a question 10 months ago

What do you mean by retail apocalypse?

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debakshi gupta
CRM and English Skills expert

Retail apocalypse is a controversial term used by the media to describe the ways a shift in consumer spending patterns may be impacting the traditional brick-and-mortar retail store business model. The number of struggling and bankrupt retailers in the United States that have been affected by these changes, including Toys R Us, Macy's and Sears, has prompted predictions of the demise of in-store shopping and the contentious label "apocalypse," which connotes widespread disaster and destruction.

 

The brick-and-mortar landscape has changed over the years due to a number of contributing factors, including the continued growth of e-commerce and an oversupply of shopping malls. Although most experts agree that the biggest factor affecting brick-and-mortar stores has been the surge in popularity of Amazon and other e-commerce companies, many economists point to a shift in consumer spending patterns after the Great Recession well as advances in mobile technology.