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t is Happening to Retail? <br />ail market has taken a catastropic hit across the nation. The Great Recession impacted sale. <br />Igo, but it doesn't explain why more and more stores are closing, and large retail names are <br />ptcy. Americans have seen great wage growth, GDP has been growing for years, and gas r <br />employment are low. So how did we get here? <br />)ple are buying <br />re things online <br />rhan before. <br />lopping has evolved over <br />;, offering deals such as free <br />and returns, making online <br />seemingly risk -free for <br />?rs. <br />)es of retail have become <br />ul online - beds, clothing, <br />hoes - forcing brick -and -mortar <br />offer comparable prices and <br />?nces. Consumers can now <br />prices and similar items from <br />ie rather than making multiple <br />ores. <br />//// <br />MEM <br />■■..■ <br />..... <br />EWE <br />..... <br />America has <br />too much retail <br />space. <br />Between 1970 and 2015, the number <br />of malls increased twice as fast as the <br />population in the U.S. This development <br />has left the U.S. with 40% more shopping <br />space per capita than Canada and 5 <br />times more space than the U.K. <br />The Great Recession brought decreased <br />wages, higher health-care costs, and <br />less spending on luxuries. This led to <br />the number of mall visits by consumers <br />dropping 50% from 2010 to 2013 and have <br />continued to decrease since. <br />2000 <br />Retail Sales : Online vs. Brick and Mortar <br />n approximately 200/ <br />online radii sales <br />began to surpass brick <br />and mortar retail sales. <br />2005 <br />2010 <br />Online Retail <br />Brick and Mortar <br />2015 <br />Spending is shift <br />from material ite <br />to experience <br />Retail was on the rise until the Gre <br />Recession, and people were buyii <br />of `stuff'. Since 2008, spending has <br />from apparel and luxury items, to <br />and dining. <br />Spending habits are being driven <br />social element of 'going out' and <br />share experiences with others, no <br />for items. <br />Sales in the "Food services and dr <br />places" category of retail have gi <br />twice as fast as all other retail spec <br />since 2005. And, in 2016, America <br />more money in restaurants and be <br />grocery stores. <br />Billions U.S. Retail Sales: Grocery Stores vs. Restaurants anc <br />$50 January 1992 - January 2015 <br />$40 <br />$30 <br />$20 <br />$10 <br />- Grocery Stores <br />- Restaurants and Bars <br />iM1e data pro <br />moment rest <br />spending sus <br />spending i <br />dcold M1 <br />Source: bttp://bf.ly/2piMymg <br />1995 <br />2000 <br />2005 <br />2010 <br />Sc <br />