So far this year, closures continue to climb. Retailers have already announced 1,925 store closures so far in 2025 — and that was only as of Jan. 10.
According to Coresight Research, store closures are likely to again surpass openings this year, with as many as 15,000 retail locations expected to shutter.
The trend reflects the divide between retailers gaining market share, such as Walmart, and those that have lost ground or filed for bankruptcy, like Big Lots.
When asked if Shein will still be able to provide its ultra-low prices if tariffs take effect, Tang didn’t address whether the company would raise prices.
Following a raft of stores closures in 2024, Coresight Research predicts that closures will escalate this year, to approximately 15,000.
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The prediction represents a spike in retail closings from 2024, but store openings will remain constant at 5,800.
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