The Amazon Effect: Store Closures Everywhere

Brick-and-mortar retailers are increasingly losing foot traffic and sales to online retailers as consumers increasingly shift to online shopping, either by desktop or mobile device. Two weeks ago, I argued that traditional retailers need to evolve their stores into one-of-a-kind ” destination venues ” to create a unique experience for the customer, one that they can’t get from an online retailer.

Macy’s, Kohl’s plunge after weak holiday sales

Macy’s Inc. said it will slash more than 10,000 jobs and detailed plans to close dozens of stores after another holiday season of weak sales, providing more evidence that department stores have lost their once-central place in American retailing. Like its rival, Kohl’s Corp., which also warned Wednesday of lackluster holiday results, Macy’s hasn’t been able to solve consumers’ shift to online shopping.