Is the retail industry enjoying a renaissance?

By all accounts, the retail sector in most of the world is struggling. Rising competition from online shopping has hit bricks-and-mortar retailers hard. Environmental concerns have led customers to question traditional packaging and farming practices. And the growing preference of many consumers, particularly younger ones, to favour “experiences” over stuff has eaten into overall demand. We see the bad news everywhere: Sears, Nine West shoes and David’s Bridal all filed for bankruptcy in 2018. In the UK, House of Fraser and HMV were each sold for a song. The insolvencies are striking up and down the value chain, from designer BCBG Max Azria to discount shop Poundworld. With these failures came job losses and further pressure on malls and high streets as shoppers had fewer reasons to visit. Read more…