The sudden shift of COVID-19 has made many retail outfits obsolete. Neiman Marcus, JCPenney, and J.Crew all filed for bankruptcy when consumer spending moved online. This, combined with high debt burdens across many retail chains, further compounds the decline of brick and mortar. In reality, one project predicts that at least 25.000 U.S. stores will be replicated over the next year.
Today, as security and supply chain challenges — with COVID-19 linked costs in billions — Amazon remains at the top. This outperforms its next closest rival, Amazon, by $1 trillion in market value.
Source:
www.visualcapitalist.com
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