24 JUN 2017 (12:13 UTC-07 Tango 06) 03 Tir 1396/29 Ramadan 1438/01 Bing Wu(6th month) 4715

According to retail analyst Fung Global Retail & Technology, in the first half of 2017 there’s been a 218% spike in store shutdowns compared to the first half of 2016!

The death of Radio Shack is the main culprit, but the overwhelming majority of retail shutdowns are clothing/apparel accessory operations.

I’ve already pointed out that the retail industry’s death spiral began under the Obama regime (Obama Legacy: U.S. Apparel industry Death-Spiral “I have no clue. It just doesn’t seem to be working…”, Obama Legacy: Death of ‘Outdoors’ stores, and don’t blame the internet!, Obama Legacy: “…a severe recession…”, OBAMA LEGACY: TRADE DEFICIT AT RECORD LEVEL?, Obama Legacy: Record 95-million + unemployed & not counted!, Obama Legacy: Illinois now an “exceptional” failed state, blame ObamaCare!)

There have been announcements of plans to open new stores in the United States, but they don’t even come close to making up for the shutdowns (many having already taken place).

2017 is well on its way to being the second highest year for shutdowns, 2008 holding the record for number one.  But the way things are going, with so many surprises for industry ‘expert’ analysts who keep getting it wrong, 2017 could take the number one spot for shutdowns.

Already I’ve seen main stream news media reacting to the data from   Fung Global Retail & Technology by blaming the internet.  I’ve pointed out many times that online shopping is way down as well, and that most of the businesses that are shutting down operations, going bankrupt or dying altogether, also sell online.

Case in point: Clothing seller Bebe (which sold on the internet) halted online sales ever since it went bankrupt.  Now there’s word that China (Hong Kong, a former British empire colony) based Global Brands Group will soon begin selling Bebe brand clothing online.

Then there’s this amazing fact:  Karen Edwards, instructor at University of South Carolina’s College of Hospitality Retailing and Sport Management, stated to local news media that internet sales make up only 10%-15% of all U.S. retail sales!

Online sellers Sears Kmart Death Spiral, June 2017:  “already-dead” Hundreds of new store shutdowns, thousands of jobs lost! 

Don’t blame the Internet: Idaho internet sales tax collections flat-line!