As the rise of e-commerce continues unabated, brick-and-mortar retail has declined. Noah Smith, a columnist for Bloomberg View, notes that there have been nine retail bankruptcies in 2017, with J.C. Penney, RadioShack, Macy’s, and Sears each announcing more than 100 store closures. The end of physical retail is a big concern for modern U.S. cities, especially the suburbs, which are built around retail stores. However, Smith says restaurants and bars have been doing more business, and people will still cluster around schools, day-care facilities, hospitals, and other local services.
July 5, 2017