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OVER 700 RETAIL STORES ARE CLOSING AROUND CANADA
- 06 March, 2020
Nowadays, physical stores are closing their doors or at least reducing them. Over 700 locations will be closing around Canada and some of them have already started. La Senza, Bench, The Gap, Pier 1 imports, Ikea, and more are some examples of brands that are closing locations.
Experts in the retail industry have said this closures are due to several factors. One of the major reasons for this phenomenon is the cost of the retail spaces. Additionally, People are more likely to shop online than to actually visit a store. Return policies are not helping stores at all since customers are able to return after several days, they are having the opportunity to order or buy pieces and return them after used, this is actually a trend which has been growing the past few years.
Despite the big amount of retail closures, there is hope for designers and independent stores. People are being more conscious about the environment and are starting to support more local businesses. Quality over quantity and uniqueness is what people are looking for and supporting.
