- Venture Beat
Erik Morton, Vice President, Strategy & Corporate Development, CommerceHub
If you think the sky is falling for traditional brick-and-mortar retailers, it’s understandable. There is a daily drumbeat of negative news about retailers filing for bankruptcy and closing stores, and the phrase “Retail Apocalypse” has its own Wikipedia entry. Amazon took approximately 46 percent of US ecommerce growth in 2016, according to data published by Internet Retailer. And in the first half of this year at least 17 national retail chains declared bankruptcy; Business Insider counted 29 retail chains closing over 6,300 stores.
But recent earnings reports from large brick-and-mortar retailers show their situation is far from dire and that, in fact, they’re thriving.