Coresight Research anticipates approximately 15,000 closures, more than doubling the previous year's figure. Retailers are increasingly recognizing the need to adapt by integrating advanced technologies, such as artificial intelligence, to enhance customer experiences and optimize operations. Deborah Weinswig, CEO of Coresight Research, emphasizes that embracing technological innovations is crucial for retailers aiming to remain relevant and mitigate the risk of closures.
(Image Source)
GLOCoresight’s Store Tracker Extra: US Store Openings and Closures 2024 Review and 2025 Outlook covers key trends for 2025:
- In 2024, the U.S. retail sector experienced a significant increase in store closures, totaling 7,325—a 57.8% rise from the previous year and the highest since 2020. This trend is projected to intensify in 2025, with Coresight Research anticipating approximately 15,000 closures, more than doubling the previous year’s figure.
- Several factors contribute to this escalation. The surge in e-commerce, led by platforms like Shein and Temu, has shifted consumer preferences toward online shopping, often offering more competitive pricing and convenience. Economic challenges, including inflation, have further strained brick-and-mortar retailers. Notably, major chains such as Party City, Big Lots, Kohl’s, and Macy’s have announced significant closures, with some undergoing bankruptcy proceedings or strategic downsizing.
- Despite these challenges, store openings have remained relatively stable, with 5,970 new stores in 2024—the highest since 2012. Coresight Research projects that approximately 5,800 stores will open in 2025, indicating resilience in certain retail segments.
- Retailers are increasingly recognizing the need to adapt by integrating advanced technologies, such as artificial intelligence, to enhance customer experiences and optimize operations. Deborah Weinswig, CEO of Coresight Research, emphasizes that embracing technological innovations is crucial for retailers aiming to remain relevant and mitigate the risk of closures.
In summary, while the retail landscape faces significant headwinds with a projected surge in store closures, opportunities for growth persist for retailers that can effectively leverage technology and adapt to evolving consumer behaviors.
Source: Coresight Research.
Disclaimer: Press release
© Press Release 2025
Send us your press releases to news@globalloyalty.org
Press releases originate from external third-party providers. This website does not have responsibility or control over its content, which is presented as is, without any alterations. Neither this website nor its affiliates guarantee the accuracy of the views or opinions expressed in the press release.
The press release is intended solely for informational purposes and does not offer tax, legal, or investment advice, nor does it express any opinion regarding the suitability, value, or profitability of specific securities, portfolios, or investment strategies. Neither this website nor its affiliates are liable for any errors or inaccuracies in the content, nor for any actions taken based on it. By using the information provided in this article, you agree to do so at your own risk.
To the maximum extent permitted by applicable law, this website, its parent company, subsidiaries, affiliates, shareholders, directors, officers, employees, agents, advertisers, content providers, and licensors shall not be liable to you for any direct, indirect, consequential, special, incidental, punitive, or exemplary damages, including but not limited to lost profits, savings, and revenues, whether in negligence, tort, contract, or any other theory of liability, even if the possibility of such damages was known or foreseeable.
The images used in press releases and articles provided by 3rd party sources belong to the respective source provider and are used for illustrative purposes in accordance with the original press releases and publications.
Disclaimer: Content
While we strive to maintain accurate and up-to-date content, Global Loyalty Organisation Ltd. makes no representations or warranties of any kind, express or implied, about the correctness accuracy, completeness, adequacy, or reliability of the information or the results derived from its use, not that the content will meet your requirements or expectations. The content is provided “as is” and “as available”. You agree that your use of the content is at your own risk. Global Loyalty Organisation Ltd. disclaims all warranties related to the content, including implied warranties of merchantability, fitness for a particular purpose, non-infringement, and title, and is not liable for a particular purpose, non-infringement, and title, and is not liable for any interruptions. Some jurisdictions do not allow the exclusion of certain warranties, so these jurisdictions may not apply to you. Global Loyalty Organisation Ltd. Reserves the right to modify, interrupt, or discontinue the content without notice and is not liable for doing so.
Global Loyalty Organisation Ltd. shall not be liable for any damages, including special, indirect, consequential, or incidental damages, or damages for lost profits, revenue, or use, arising out of or related to the content, whether in contract, negligence, tort, statute, equity, law, or otherwise, even if advised of such damages. Some jurisdictions do not allow limitations on liability for incidental or consequential damages, so this limitation may not apply to you. These disclaimers and limitations apply to Global Loyalty Organisation Ltd. and its parent, affiliates, related companies, contractors, sponsors, and their respective directors, officers, members, employees, agents, content providers, licensors, and advisors.
The content and its compilation, created by Global Loyalty Organisation Ltd, are the property of Global Loyalty Organisation Ltd. and cannot be reproduced without prior written permission.
