- Created: Monday, 08 January 2018 12:47
Are we facing into a retail apocalypse? The US certainly seems to be; over the past 15 years, close to half a million jobs have been lost in department stores there, while the next five years will see 25 per cent of the malls of America disappear as more and more shoppers embrace the allure of the online world.
Last week the toy store giant Toys R Us hired a team of restructuring lawyers to help it tackle roughly $400 million in debt as it struggles to compete with Amazon. The news prompted ecommerce delivery company ParcelHero to say the toy giant’s problems “reflect the overall collapse of high street toy shops as online toy sales take a monopoly of the market”.