E-commerce has caused a lot of shifts in the world of shopping, but these shifts have not mostly favored traditional retailers, but have been a major cause of bankruptcy of many of the bright names in the sector.
More recently, the bankruptcy of Forever 21 was a new blow to the US retail sector, although it was not entirely surprising, as such an event became a routine event in the sector.
Since 2017, more than 20 traditional US retailers have declared bankruptcy, including names that have risen dramatically in earlier periods such as Sears and Toys R Us.
This year has seen the closure of more than 8,200 traditional retail stores in the United States, and this number is expected to rise to 12 thousand stores by the end of the year and to 75 thousand stores by 2026, according to the expectations of the bank "UPS".
The rise of the e-commerce star is the main reason for the suffering of traditional retailers in the world.
For example, in 2018, Amazon's North American companies alone earned about $ 141 billion, equivalent to 30,000 traditional stores there.
UBS estimates that e-commerce will grow at an annual rate of 15 percent to 20 percent over the next 10 years.
This is expected to boost retail market share and create more challenges for retailers who are not keeping pace with the technological shift.
Today, e-commerce accounts for about 15 percent of global retail sales, estimated last year at $ 19 trillion.
Source Sky News