One by one, longtime retail giants like Macy’s and Toys “R” Us are shutting their stores, or closing down altogether.
Certified Public Accountant Kemberley Washington says we’re seeing a lot of department stores closing at an alarming rate, and online sales have played a big role.
“Online shopping has increased to 10 percent in the couple past years,” she says. “In the early 2000’s, it was only at two percent and five percent. So, it’s drastically changing.”
Washington says the stores that recognize the shift to online, and are making changes, seem to be surviving. Stores like Walmart and Target are amplifying their online presence.
Grocery stores like Whole Foods are now competing with Amazon.
“Many stores are now understanding the needs of their consumers and they’re saying, now I’m going to offer some sort of online opportunity for individuals to go online, pick out their groceries,” Washington says.
She adds that the shopping shift also means a shift in employment. Cashiers aren’t needed as much because of self-checkouts, which have become mainstream.
Employment rates may remain steady, but department store jobs are declining, while online retailers, like Amazon, are hiring more. It’s a shift in the shopping climate that the entire country is adjusting to.