How many Disney Stores are closing in the US and where?
Disney becomes the latest chain to announce the closure of physical stores to focus on growing its e-commerce capabilities, as the pandemic shifts consumer preferences
Disney, an iconic part of the culture in the US, has announced that they will close a series of stores across the country. Like many companies, Disney will be closing physical locations and transition its focus to e-commerce.
In a statement released by Disney’s president of consumer products games and publishing, Stephanie Young argued that “While consumer behavior has shifted toward online shopping, the global pandemic has changed what consumers expect from a retailer.
Young also touted the companies progress on the e-commerce front, saying, "We now plan to create a more flexible, interconnected e-commerce experience that gives consumers easy access to unique, high-quality products across all our franchises.”
Where are stores closing?
All in all, sixty stores will be closed this year or around a third of the locations.
Disney stores are scattered across malls and iconic tourist locations like Times Square. USA Today is keeping an updated list of those stores that are reportedly closing.
What other companies have announced closures?
Major retail chains are decided to close physical stores as more and more consumers shift their preferences. Business Insider reported earlier this year that 1000 stores had been closed by various retailers in 2021. During these challenging times, these closures will be felt by many in the sector.
Unlike workers involved in hospitality, most of these jobs will be lost forever as they are made obsolete during the shift to e-commerce.
Which stores will be closed in the first round?
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Best Buy -- the electronics store known for their blue polos, laid off 5,000 employees in recent years. Many of the lay-offs came during the pandemic, as sales for the business increased, but with the majority taking place online. Over the last few years, the number of stores leases has dropped from 450 to 150.
Macy's -- Business Insider reported that Macy's HQ told workers in forty-five locations that their store would be closed in 2021. The store plans to close a fifth of its stores by 2023.