After months of pandemic and retail carnage, store closure statistics reflect a glimmer of hope. According to Coresight Research, retail store closures are down for the first time in 2021. The firm reported that 4,626 stores have closed this year, a 5.7% decline from last year’s numbers. Openings have almost kept pace, but not quite, coming in at 4,311 new stores so far. Still, that is a 41.8% increase over the same time last year.
After a harrowing pandemic and global recession, retail had few places to go in 2021 but up.