Name: Many Physical Retailers Reaching Breaking Point, Can't Compete With Online Retailers: Economist
Uploaded: 2024-02-29T02:14:40.000Z
Description: Macy's announced Tuesday that it plans to close 150 department stores by 2026, including 50 stores this fiscal year.

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Macy's announced Tuesday that it plans to close 150 department stores by 2026, including 50 stores this fiscal year.

Peter Earle, a senior research fellow at the American Institute for Economic Research, says physical retailers cannot compete with online retailers on cutting prices, and many physical retailers are reaching the breaking point.

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