More than 8,600 retail locations will shut down this year, following the 5,077 that closed last year, based on data from Credit Suisse. Moreover, 2017 could surpass 2008 — the worst year for retail closures on record — when 6,163 stores shut down operations. However, unlike 2008, when overall consumer spending declined with the onset of a global recession — the worst economic downturn since the end of World War II — today’s shop killer is online commerce, notably sales made on mobile devices.
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