Many of our favorite stores have been shutting down left and right, and there are many on the verge, such as Charlotte Russe, Lovesick, and Forever 21. But why?
Major online stores such as Fashion Nova, PrettyLittleThing, Boohoo, and Shein are taking over the retail market, with what has been coined as “fast-fashion.” They are cheap, trendy and exclusively sold online. If you are like me, online shopping is much more appealing than making a trip to the actual stores. A convenience for us, is a hardship for many of the stores that have cannot keep up with this new trend.
This issue extends far beyond the realm of retail, to companies like “Toys R Us”, which closed last year. Walmart and Target carry a variety of toys, within their expansive inventory, many of the same ones that “Toys R Us” carried. So, for many consumers, it didn’t make since for them to make multiple trips to different stores, when everything they need is combined into one. This idea of convenience pushed “Toys R Us” and many other stores out of business, causing what is known as a Retail Apocalypse.
Should consumers like myself not shop online so much and start supporting businesses in person?
Or should companies be forced to keep up with the trend and become online companies?