Couldn't really find a good thread for this, which is surprising, considering how important the issue is for metro development...

This NYT article makes a few good points about the retail apocalypse:

New York Times - Never Mind the Internet. Here’s What’s Killing Malls.

"It has been a tough decade for brick-and-mortar retailers, and matters seem only to be getting worse.
Despite a strong consumer economy, physical retailers closed more than 9,000 stores in 2019 — more than the total in 2018, which surpassed the record of 2017. Already this year, retailers have announced more than 1,200 more intended closings, including 125 Macy’s stores.
Some people call what has happened to the shopping landscape “the retail apocalypse.” It is easy to chalk it up to the rise of e-commerce, which has thrived while physical stores struggle. And there is no denying that Amazon and other online retailers have changed consumer behavior radically or that big retailers like Walmart and Target have tried to beef up their own online presence.
But this can be overstated.
To begin with, while e-commerce is growing sharply, it may not be nearly as big as you think. The Census Bureau keeps official track. Online sales have grown tremendously in the last 20 years, rising from $5 billion per quarter to almost $155 billion per quarter. But internet shopping still represents only 11 percent of the entire retail sales total."  (continues)

^The article highlights, or otherwise implies, some types of brick-and-mortar retail that are either doing very well or still may have a rosy outlook based on the underlying trends creating the retail apocalypse...if they can adapt.

• Big box discount, home improvement, drug stores, and convenience stores / gas stations are thriving  
• Brick-and-mortar that specialize in cheap fresh, large and/or heavy goods, etc. i.e. stuff that is expensive to transport, still have potential, but traditional grocers are not doing well overall
• Brick-and-mortar oriented around services is booming, e.g. spas, salons, fitness centers, pet groomers, etc.  
• Entertainment / social experiences are still doing well overall, although traditional bars and restaurants not so much
• Try-before-you-buy brick-and-mortar like cosmetics and high-end clothing still have potential, but are very susceptible to economic and fashion trends

STL City is already pretty much rid of all of these dying retail categories. No malls and very few big box “Category Killer stores.”

Our existing retail mix is largely in the healthy growing areas mentioned above. Customers no longer have to go to stores to buy the things they need, but they still like to go shopping. This they buy the things they don’t need like exercise, experiences, and craft food and beverage.

The county however is going to be facing some serious headwinds. Entire communities are built around these massive high square footage shopping centers that rely on an unsustainable business model. Look what happened to North county.

GoHarvOrGoHome wrote: ↑

Feb 15, 2020

This they buy the things they don’t need like exercise, experiences, and craft food and beverage.

That sounds scary in that the sales in those categories are more vulnerable to recession.

That is very true. The plus side is that the city is actively growing its local population of college educated high earners. Our retail mix will definitely take a hit during another severe or sustained recession, but this continued shift in demographics will likely soften the blow in urban St. Louis. The money is simply moving here.

CNN - The real reasons stores such as Walmart and Starbucks are closing in big cities

https://www.cnn.com/2023/05/12/business ... index.html