The Store is Dead — Long Live the Store

David Bell; Santiago Gallino, Tuck School of Business; and Antonio Moreno, Harvard Business School

MIT Sloan Management Review, Spring 2018

Excerpt: Offline demise and offline renaissance is the paradox of new retail writ large. Swiss multinational financial services company Credit Suisse projects that by the time the numbers are in, more than 8,500 stores in the United States will have closed in 2017. Consensus estimates predict that 25% of all shopping malls will shrink or close in the near future. At the same time, online-first brands from suitcase retailer Away to eyewear maker Warby Parker are successfully opening pop-ups, showrooms, and full-blown stores. Not to be outdone, Amazon.com, the granddaddy of online-first, has opened bookstores and is rumored to be planning to open 2,000 AmazonFresh grocery stores over the next 10 years.

The net result: Offline is dead and dying, yet it is also alive and thriving.

Read the full article here.

Michelle Eckert is Marketing and Communications Coordinator for the Mack Institute, where she works to engage students, researchers, and corporate partners in opportunities for collaboration. Michelle received her B.A. in Art from Valparaiso University in 2007. Her background includes two AmeriCorps terms of service working to teach mathematics, computer literacy, and job readiness skills to out-of-school youth in Philadelphia, focusing particularly on promoting access to post-secondary education.