Major Retail Stores to Close Due to Online Shopping Competition

Major Retail Stores to Close Due to Online Shopping Competition

Photo Courtesy of cnbc.com

Sears, Toys“R”Us, and J. C. Penney are few of the many stores that will be closing due to the competition with online shopping, reported foxbusiness.com.

In the 2017 Cyber Monday sales, online shopping hit a fresh record, nearing 7 billion dollars, proving the hypothesis that people are starting to move into the new age of technology and shop online, according to foxbusiness.com.

“The rise of ecommerce outlets like Amazon has made it harder for traditional retailers to attract customers to their stores and forced companies to change their sales strategies. Many companies have turned to sales promotions and increased digital efforts to lure shoppers while shutting down brick-and-mortar locations,” stated foxbusiness.com.

Retail stores making $1.1B while Amazon sales almost making triple that at $3.1B in 2016, reported usatoday.com

Hundreds of retail stores filed bankruptcy in the 2017 year, causing the retail chain to start closing hundreds of stores across the nation, according to clark.com.fire in

The following is a list of retail stores that are closing

  • Sears and Kmart – around 420 stores closing
  • J.C. Penny – around 140 stores closing
  • Macy’s – around 70 stores
  • J.Crew – around 50 stores
  • Payless Shoe Source – close to 1000 stores
  • Vitamin World – around 50 stores
  • Gap and Banana Republic – around 200 stores
  • Perfumania – around 65 stores
  • Teavana – around 380
  • Gymboree – around 350 stores
  • True Religion – around 30 stores
  • Sam’s Club – around 60 stores
  • Michael Kors – close to 125 stores