The announcement long-time retailer JC Penny would close some 33 stores including the one in he Salisbury Centre has shocked many, but economist say this is only the tip of the iceberg for large box stores.
Recent articles claim another retain institute Sears could fold this year completely. Some economist say within 10 years retailers will cut back employment by 6-8%. The reason given is many people are shopping online with this year online sales set a record.
In a dozen years it is estimated we will see the elimination of several shopping malls again because of online shopping.
Some who I talk to like shopping online because they can save on sales tax, don’t have to leave their home; others say they like to see and feel the merchandise and don’t shop online.
What say you?