“Biggest Drop In More Than Nine Years”: America’s Retail Apocalypse Is Greatly Accelerating In The Early Stages Of 2019
Posted: 14 Feb 2019 Michael Snyder
All over America retailers are going bankrupt and closing stores. Of course, this has been happening for years, but as you will see below the numbers have dramatically escalated during the early portion of 2019. Our landscape is already littered with countless numbers of hollowed out stores and abandoned malls, and it is about to get a whole lot worse.
Retailers were hoping that a strong holiday season would turn things around, but that didn’t happen. In fact, we just learned that retail sales in the United States suffered “their biggest drop in more than nine years” during the month of December…
Every time I write an article like this, a few commenters chime in and blame this entire trend on the rise of online retailing. And without a doubt, online retailing has been growing in recent years, but it still accounts for less than 10 percent of the entire industry.
If online retail sales were to blame for this latest drop, you would expect to see that reflected in the numbers. But instead, when we look at the numbers what we find is that online retailers experienced “the biggest drop ever” during the month of December…
So brick and mortar retail sales are going down and online retail sales are going down.
It is starting to smell a lot like a recession, and many in the industry are starting to panic. And when I say panic, I mean that they are closing stores at a pace that is far faster than last year. In fact, so far retail store closings are 23 percent ahead of the pace set last year…
Unfortunately, the number of store closings is about to double because Payless ShoeSource plans to declare bankruptcy and shut down 2,300 stores…
And Payless is far from alone. If you can believe it, the number of retail bankruptcies in 2019 is “already at one-third of last year’s total”…
Ladies and gentlemen, this is what a retail apocalypse looks like, and we are still in the early chapters.
It is going to take some time for this drama to fully play out. Just look at Sears – it is a money bleeding zombie of a company, but Eddie Lampert has convinced investors to give things one more try. But they are going to zero, and so is JC Penney, and so are a whole host of other major retailers.
In the end, millions upon millions of square feet of retail space is going to be sitting vacant. Some of the more economically depressed areas of the country are going to closely resemble ghost towns, and we are going to see a commercial real estate crisis that is off the charts.
How is that possible?
I thought that the U.S. economy was supposed to be “booming”.
Isn’t that what they have been telling us?
In recent weeks I have repeatedly brought up current economic numbers that are even worse than the last recession, and yet so many people out there continue to insist that everything is just fine.
No, everything is definitely not “just fine”.
Economic activity is slowing down dramatically, and many believe that things are about to get a whole lot worse. In fact, Peter Schiff is warning that what is ahead “is going to be worse than what we now call the Great Recession”…
I wish that I had better news for you today, but I don’t.
The retail apocalypse is accelerating, America’s debt crisis is starting to reach a critical level, and very challenging days are approaching for all of us.
About the author: Michael Snyder is a nationally-syndicated writer, media personality and political activist. He is the author of four books including Get Prepared Now, The Beginning Of The End and Living A Life That Really Matters. His articles are originally published on The Economic Collapse Blog, End Of The American Dream and The Most Important News.
From there, his articles are republished on dozens of other prominent websites. If you would like to republish his articles, please feel free to do so. The more people that see this information the better, and we need to wake more people up while there is still time.
- Johnny Enlow: “A Super Bowl Message For Our Day” The Elijah List
- 2019 – Year for Overcoming Stubborn Strongholds by Bill Yount, Identity Network