In July of 2018, USA Today released an article detailing several retailers that may not survive 2018.
They were: Foot Locker, Payless ShoeSource, Sears Holdings, Barnes & Noble, GNC, JCPenney, Vitamin World, Charlotte Russe, Office Depot, Sears Hometown & Outlet, and The Vitamin Shoppe.
Out of this list, Sears and JCPenney at Eastland Mall in the Twin Cities shut down last year.
The revenue wasn’t like it used to be.
While most of USA Today’s predictions didn’t apply to our area, Central Illinois saw some stores close.
The big 3 were: Bergner’s, Toys R’ Us, and Kroger.
Chris Setti, CEO of the Greater Peoria Economic Development Council, says big box stores can be successful in our area and sometimes company management is the problem.
He says that was the case for Bergner’s and that’s why leaders are encouraging you to shop local.
“Recognizing that we’re never going to change the habits and convenience that folks have come accustomed to with online shopping, but asking people to think about how they’re doing that and if there are options for them to shop locally,” said Setti.
With lots of online shoppers, there’s no telling when this so-called “Retail Apocalypse” will come to an end.
Setti added, “It should be a concern. There’s a lot that can be done about it. This is a national problem, if not a global problem.”