{"id":648905,"date":"2017-04-14T08:10:44","date_gmt":"2017-04-14T08:10:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/14\/the-collapse-of-retail\/"},"modified":"2017-04-14T08:10:44","modified_gmt":"2017-04-14T08:10:44","slug":"the-collapse-of-retail","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/14\/the-collapse-of-retail\/","title":{"rendered":"The collapse of retail"},"content":{"rendered":"

There\u2019s more than Amazon behind the meltdown of retail in the United States over the <\/strong>last two years, and if you\u2019re doing retail in Egypt, you need to read this:<\/strong> Bankruptcies, store closures and liquidations in retail in the U.S. are partly due to online shopping, writes The Atlantic<\/a>\u2019s Derek Thompson. \u201cThere have been nine retail bankruptcies in 2017,\u201d according to Thompson. \u201cJ.C. Penney, RadioShack, Macy\u2019s, and Sears have each announced more than 100 store closures,\u201d and Ralph Lauren will close its flagship Polo store on Fifth Avenue. Online shopping is getting more popular, not just for books and music: Clothing is now the largest e-commerce category<\/strong>. Shopping has gone mobile, too. \u201cSince 2010, mobile commerce has grown from 2 percent of digital spending to 20 percent.\u201d<\/p>\n

Retail is also collapsing in the US because Americans built too many malls.<\/strong> The number of malls grew over twice as fast as the population growth in 1970-2015. \u201cSo it\u2019s no surprise that the Great Recession provided such a devastating blow: Mall visits declined 50 percent between 2010 and 2013.\u201d They\u2019re still falling. The third reason is a change in lifestyle, as people are going to restaurants and traveling rather than shopping.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

There\u2019s more than Amazon behind the meltdown of retail in the United States over the last two years, and if you\u2019re doing retail in Egypt, you need to read this: Bankruptcies, store closures and liquidations in retail in the U.S. are partly due to online shopping, writes The Atlantic\u2019s Derek Thompson. \u201cThere have been nine […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12012],"tags":[72,2380,12011,12010],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-648905","post","type-post","status-publish","format-standard","hentry","category-speed-round-the-weekend-edition","tag-enterpriseam","tag-speed-round","tag-speed-round-the-weekend-edition","tag-the-weekend-edition","wpautop","entry"],"acf":{"mongo_id":"945faa3b-f597-44b5-9c6e-7df9bc511bf8","order":"0","is_powered_by":true,"section_story_id":"ca170a35-b06c-4ca4-a4c8-6d05250fe39c","story_type":"1","photo_url":"","photo_position":"above","related_issue":[648891],"teaser":"","voice_url":""},"yoast_head":"\nThe collapse of retail - 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The GCC-based giant \u2014 with its collection of well-known brands such as Nike, Calvin Klein, Adidasm and Forever 21 \u2014 is hoping 10%\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/3\/293.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":645016,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/10\/the-number-of-online-shoppers-in-the-middle-east-grew-6-between-2013-17\/","url_meta":{"origin":648905,"position":1},"title":"The number of online shoppers in the Middle East grew 6% between 2013-17","author":"enterpriseam admin","date":"10 July 2017","format":false,"excerpt":"The number of online shoppers in the Middle East grew 6% between 2013-17, says Pricewaterhouse Cooper\u2019s latest Middle East Retail Survey. With around 29% of Middle East consumers now shopping online each month, the region\u2019s retail sector is undergoing some \u201cgame changing developments\u201d that are giving rise to numerous opportunities.\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593107,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/18\/tech-investment-fund-a15-doubles-its-investment-in-retail-personalization-platform-intouch\/","url_meta":{"origin":648905,"position":2},"title":"Tech investment fund A15 doubles its investment in retail personalization platform Intouch","author":"enterpriseam admin","date":"18 November 2019","format":false,"excerpt":"STARTUP WATCH- Tech investment fund A15 has doubled its initial investment in Dublin-based retail personalization platform Intouch, according to an emailed statement (pdf). The statement does not disclose the size of A15\u2019s investment in the company, which Intouch CEO Sameh Abdallah says will be used to expand its presence in\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651067,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/03\/craving-creativity-embrace-boredom\/","url_meta":{"origin":648905,"position":3},"title":"Craving creativity? Embrace boredom.","author":"enterpriseam admin","date":"3 February 2017","format":false,"excerpt":"\u201cBoredom might spark creativity because a restless mind hungers for stimulation,\u201d writes Clive Thompson for Wired. A study showed that \u201cthe state of boredom contained three main sources of value: altered perception of time, awakened curiosity about the environment, and exploration of self,\u201d reads the abstract of a paper by\u2026","rel":"","context":"In "SPEED ROUND, THE WEEKEND EDITION"","block_context":{"text":"SPEED ROUND, THE WEEKEND EDITION","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-the-weekend-edition\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":605122,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/23\/west-cairo-is-getting-an-ikea-as-marakez-al-futtaim-ink-agreement\/","url_meta":{"origin":648905,"position":4},"title":"West Cairo is getting an Ikea as Marakez, Al Futtaim ink agreement","author":"enterpriseam admin","date":"23 December 2018","format":false,"excerpt":"EXCLUSIVE- West Cairo is getting an Ikea. Fawaz AlHokair Group\u2019s Marakez has inked a long-term lease agreement with Al Futtaim Misr for Retail to open a 20k sqm Ikea store at Mall of Arabia in West Cairo, according to a statement (pdf). The outlet will be the second in Egypt\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/12\/807.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":650145,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/17\/the-weekend-recommendation-2\/","url_meta":{"origin":648905,"position":5},"title":"The Weekend Recommendation","author":"enterpriseam admin","date":"17 March 2017","format":false,"excerpt":"Happy St. Patrick\u2019s Day, everyone. With Cairo\u2019s unforgivable lack of Guinness and proper Irish stews, we\u2019ll have to make do with local alternatives. 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