Closed Stores: Street and Mall Life?

We’ve all heard the news on the economy. The latest large number of articles describe the number of stores that have closed. Reportedly 160,000 stores will close in 2008. Estimates are that even more could shut their doors in 2009.

Yes, everything from electronics to apparel are filing for bankruptcy protection. Others, like Starbucks did earlier this year, are simply closing down store fronts. The pundits tell us that 40% of store sales and profits come during the holiday season and this year consumer spending dropped significantly–27% in sales of big ticket items like appliances and electronics.

Many of us have been wondering where the spending has been coming from for the last few years. We also figured that sales were also continuing to grow via the Internet, making one wonder about the continued existence of stores.

During the talks I had before hiring a publicist to help me market my book, Hollywood Bohemians, everyone’s focus was on the Internet. Three of them told me that if I want to sell books, you have to create an Internet marketing campaign. People are not only buying through Amazon, they are meeting in online sites with a shared focus, such as GoodReads and LibraryThing, and they are learning about books from fellow members.

With the decline in overall spending and the greater shopping online more stores will close.

My question: what will the streets of our cities and suburban malls look like when the stores shutter? What will you pass when you walk along Main Street or along a numbered street or avenue in a city? How many panes of glass will you look into and see the remnants of a counter, or empty tables? Will you stroll from one end of a Mall to the other and count more dark spaces than ones with the lights on? Who is going to change all those Mall directories?

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2 comments so far

  1. […] unknown wrote an interesting post today onClosed Stores: Street and Mall Life? « Bohemian Yankee in the CapitalHere’s a quick excerptThree of them told me that if I want to sell books, you have to create an Internet marketing campaign. People are not only buying through Amazon, they are meeting in online sites with a shared focus, such as GoodReads and LibraryThing, … […]

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