For brick-and-mortar retailers, 2020 has been more of the same “retail apocalypse,” just at a faster pace. The pace of bankruptcies rivals 2010 in the wake of the Great Recession. They stopped selling shoes and closed their retail stores, shifting to online only. Retail business models requiring huge amounts of real estate were a hit in back in the 20 th century, but they are obsolete in the modern digital economy. But taken together, other factors have caused greater harm to traditional retail stores, an economist says. ... Feb 20, 2020 at 1:24PM Author Bio. The year's closures include Zara, Macy's, and Men's Wearhouse. Retail thought it was facing the apocalypse. Then came the coronavirus Doy Estacio walks past a closed Sephora store on Colorado Boulevard in Pasadena on April 2. Retail Apocalypse October 7, 2020 by Michael Maharrey 0 0 Less than two months after reopening, Regal Theaters will shut down all … If there was a retailing equivalent of a swear jar (put in a dollar for every curse word) then it should be used for the phrase “retail apocalypse.” (Dang, there goes a George Forbes.com - January 25, 2020: “Is the Retail Apocalypse Over?” “The “retail apocalypse” continues in spite of the good gain of 3.4% in overall retail sales, according to Mastercard, and online sales gains of 18.8% versus last year. The store-closing list of 2020 is vast thanks to COVID-19 and a reliance on online shopping. If this eventuality occurs, retailers’ Christmas 2020 is shot, along with the first four-to-six months of the year. On May 4, 2020, Nordstrom announced that it would shutter sixteen locations. Through the first six months of 2020, 18 retailers filed for Chapter 11 bankruptcy, with an additional 11 filing in July through mid-August. 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