Technology Audio South Africa

ICT Trends 2020

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#TechWatch: The Retail Apocalypse

In this podcast series, Bilal and Maseeh Kathrada discuss the latest trends and life-changing innovations in technology.

The ongoing “retail apocalypse” in the United States has claimed more victims in the first quarter of this year than all of 2018 combined. By end of April this year, almost 6,000 retail stores closed down in the US, while the total number of store closures in 2018 was just 5,864.

This a continuation of a trend that has been going on since 2010, and rather than slowing down, it is only showing signs of accelerating.

Researchers predict that by 2026, nearly 75,000 stores will have closed down in the US alone.

What is causing this this apocalypses and should we try and stop it?