Wednesday, 14 March 2018
The industry continues in its shakeout and shake-up phase, as technology has empowered a nextgen consumer culture which is forcing radical transformation across all consumer-facing industries. The shakeout has already shuttered thousands of stores, with more to come. Also, other than so-called ‘A’ malls, many of the roughly 900 lesser performing malls have closed, and the rest are under the threat of closure. Hundreds of retailers and brands, many with iconic names, have been forced into bankruptcy.