09222017Fri
Last updateWed, 20 Sep 2017 7am

NRF reports retail store openings increase in 2017

Grandopening

As the “retail apocalypse” canard continues to grab the odd headline in the media, the data and the facts are consistently telling us quite a different story: a story of an industry in transition, but still growing. The most recent retail sales figures released by the Census Bureau were up a robust 4.2 percent year-on-year in July. Every month this year has seen a steady increase in sales over the same period last year.

Nonetheless, we keep hearing about record-level store closings and how this portends doom for the retail industry. But we’ve consistently argued that this data is drawn from a biased sample. IHL Group just published a report that offers a thorough and complete debunking of the main false premise supporting the retail apocalypse myth. Their data shows a net increase in store openings of over 4,000 in 2017. In fact, for each company closing a store, 2.7 companies are opening stores. 

Read the full story at https://nrf.com/news/retail-store-openings-increase-2017

 

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