2021 could be the year that may see the number of store openings in the US beat the number of store closures.
At least the numbers presented by Coresight Research Report say so, though it is too early to make any conclusive statement.
Coresight Research, known for delivering data-driven insights about retail and technology, has said that 2021 might see US retailers open as many as 3,344 stores so far.
Now that’s 39.5 per cent more store openings than the announcements made during the same period in 2020. As far as store closures are concerned, it’s been 2,649 announced so far this year.
The numbers may vary during the year, but over the last few years store closures have outpaced store openings in the US and hopefully the trend is going to change in 2021.
With vaccines available and life returning back to normalcy – though gradually – there is now hope. Many retailers who are planning to open stores this year include fashion bigwigs like American Eagle’s Aerie, Dick’s Sporting Goods, Sketchers USA and Sephora, amongst many others.
Besides, there’s Dollar General, which plans to open over 1,000 locations this year. Dollar Tree too has announced to open 335 stores in 2021.
As per the report, 2020 – owing to bankruptcies and restructuring – saw 8,960 store closures and only 3,307 store openings, but going by the current numbers, we may see a better picture this year.