New Report Predicts 80,000 Retail Stores Will Close by 2026

By Sheridan Fifer

America seems to be overstored, with too much retail space per capita, and a new report predicts that retailers will soon be paying the price. An accelerated shift to online shopping during the coronavirus pandemic leads UBS to predict that 80,000 stores will close by the year 2026. That is assuming that e-commerce sales grow to represent 27% of total retail sales. Today, they represent 18% of total retail sales. 

Although the pace of store closures has slowed from its 2019 peak, don’t expect the reprieve to last long, according to a new UBS report...

Read the full story at CNBC.