Nordstrom. Walmart. Whole Foods. Starbucks. CVS. These big chains and others have closed stores in major U.S. cities recently due to people working from home, online shopping, exorbitant rents, crime and public safety concerns and more.
Thanks to our sponsors:These big chains and others have closed stores in major U.S. cities recently, raising alarm about the future of retail in some of the country’s most prominent downtowns and business districts.
San Francisco, Los Angeles, San Diego, New York City, Seattle, Miami and Chicago lost retail stores from the beginning of 2017 to the end of 2021, according toWhat’s more, experts agree, the closures aren’t just about crime. Several trends have converged to put these stores at risk., from 1995 to 2021, more stores closed every year than opened. The trend became popularized as the “retail apocalypse.
One major factor here is the pandemic-fueled shift to remote work: Between 2019 and 2021, the number of people primarily working from home tripled from around 9 million people to 27.6 million people, according to the Census Bureau. San Francisco lost around 6% of its retail establishments from 2019 to 2021, according to the think tank’s research. Los Angeles lost around 4% and New York shed 3%.Online ShoppingE-commerce made up 14.7% of all retail sales during the final quarter of 2022, according to the Census Bureau. The pandemic accelerated that growth.
Finally, struggles to recruit workers at higher wages and punishing rents in cities have contributed to retail closings. It hearkens back to urbanist Jane Jacobs’ influential 1958 essay “Downtown is for People,” in which she argued a vibrant street life was crucial for neighborhood safety and community.
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