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Retail Apocalypse
The retail apocalypse refers to the closing of numerous brick-and-mortar retail stores in the United States, especially those of large chains, beginning in the 2010s and accelerating due to the mandatory closures during the COVID-19 pandemic. In 2017 alone, more than 12,000 physical stores closed. The reasons included debt and bankruptcy in the face of rising costs, leveraged buyouts, low quarterly profits outside Economics of Christmas, holiday binge spending, delayed effects of the Great Recession, and changes in spending habits. American consumers have shifted their purchasing habits due to various factors, including experience economy, experience spending versus material goods and homes, casual fashion in relaxed dress codes, as well as the rise of e-commerce and particularly juggernaut companies such as Amazon.com and Walmart. A 2017 ''Business Insider'' report dubbed this phenomenon the "Amazon effect" and calculated that Amazon.com was generating more than half of retail-s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Sears
Sears, Roebuck and Co., commonly known as Sears ( ), is an American chain of department stores and online retailer founded in 1892 by Richard Warren Sears and Alvah Curtis Roebuck and reincorporated in 1906 by Richard Sears and Julius Rosenwald, with what began as a mail-order catalog company migrating to opening retail locations in 1925, the first in Chicago. Through the 1980s, Sears was the largest retailer in the United States. In 2005, the company was bought by the management of the American big box discount chain Kmart, which upon completion of the merger, formed Sears Holdings. In 2018, it was the 31st-largest. After several years of declining sales, Sears' parent company filed for Chapter 11 bankruptcy on October 15, 2018. It announced on January 16, 2019, that it had won its bankruptcy auction, and that a reduced number of 425 stores would remain open, including 223 Sears stores. Sears was based in the Sears Tower in Chicago from 1973 until moving out to Ho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
2010s
File:2010s collage v22.png, From top left, clockwise: Anti-government protests called the Arab Spring arose in 2010–2011, and as a result, many governments were overthrown, including when Libyan dictator Muammar Gaddafi was Death of Muammar Gaddafi, killed; Crimea is Annexation of Crimea by the Russian Federation, annexed by Russia in 2014; Islamic State of Iraq and the Levant, ISIS/ISIL perpetrates terrorist attacks and captures territory in Syria and Iraq; climate change awareness and the Paris Agreement; the Event Horizon Telescope captures the first image of a black hole in 2019; ''Obergefell v. Hodges'' legalizes same-sex marriage in the United States in 2015, marking continuing progress for LGBTQ rights by country or territory, LGBTQ rights in developed countries; increasing use of digital media and Post-PC era, rise of mobile devices; the United Kingdom, UK votes to Brexit, leave the European Union, EU in 2016 on a rising tide of populism throughout the decade., 335x335px, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Financial Impact Of The COVID-19 Pandemic
Economic turmoil associated with the COVID-19 pandemic has had wide-ranging and severe impacts upon financial markets, including stock, bond, and commodity (including crude oil and gold) markets. Major events included a described 2020 Russia–Saudi Arabia oil price war, Russia–Saudi Arabia oil price war, which after failing to reach an OPEC+ agreement resulted in a collapse of crude oil prices and a 2020 stock market crash, stock market crash in March 2020. The effects upon markets are part of the COVID-19 recession and are among the many Economic impact of the COVID-19 pandemic, economic impacts of the pandemic. Financial risk and country risk As coronavirus(Covid 19) put Europe and the United States in virtual lock down, financial economists, credit rating and country risk experts have scrambled to rearrange their assessments in light of the unprecedented geo-economic challenges posed by the crisis. M. Nicolas Firzli, a director of the World Pensions & Investments Forum, Wor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
CNN Business
CNN Business (formerly CNN Money) is a financial news and information website, operated by CNN. The website was originally formed as a joint venture between CNN.com and Time Warner's '' Fortune'' and ''Money'' magazines. Since the spin-off of Time Warner's publishing assets as Time Inc. (and their subsequent sale to Meredith Corporation and later, to IAC's Dotdash), the site has since operated as an affiliate of CNN. History CNN Money launched in 2001, replacing CNNfn's website. Time Warner had also announced an intention to relaunch the CNNfn television network under the CNN Money moniker, but those plans were apparently scrapped. Prior to June 2014, the website was operated as a joint venture between CNN and two Time Warner-published business magazines; '' Fortune'' and ''Money''. In June 2014, Time Warner's publishing assets were spun-out as Time Inc.; as a result, all three properties launched separate web presences, and CNN Money introduced a new logo that removed the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Retail Workers In The United States
Retail workers are people who are employed by any form of retail store. Typically one of the first jobs people work in, many retail workers are as young as 14. The jobs of a typical retail worker include processing customers payments, and helping customers around the store, and little training is required. Background In 2017, over 12,000 physical stores closed due to factors including over-expansion of malls, rising rents, bankruptcies, leveraged buyouts, low quarterly profits outside Economics of Christmas, holiday binge spending, delayed effects of the Great Recession, and changes in spending habits. American consumers have shifted their purchasing habits due to various factors, including experience economy, experience-spending versus material goods and homes, casual fashion in relaxed dress codes, as well as the rise of e-commerce, mostly in the form of competition from juggernaut companies such as Amazon.com and Walmart. A 2017 ''Business Insider'' report dubbed this phenome ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Walmart
Walmart Inc. (; formerly Wal-Mart Stores, Inc.) is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores in the United States and 23 other countries. It is headquartered in Bentonville, Arkansas. The company was founded in 1962 by brothers Sam Walton and Bud Walton, James "Bud" Walton in nearby Rogers, Arkansas. It also owns and operates Sam's Club retail warehouses. Walmart has 10,586 stores and clubs in 24 countries, operating under 46 different names. Walmart is the List of largest companies by revenue, world's largest company by revenue, according to the Fortune Global 500, ''Fortune'' Global 500 list in October 2022. Walmart is also the List of largest United States–based employers globally, largest private employer in the world, with 2.1 million employees. It is a publicly traded family-owned business (the largest such business in the world), as the company ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Amazon
Amazon most often refers to: * Amazon River, in South America * Amazon rainforest, a rainforest covering most of the Amazon basin * Amazon (company), an American multinational technology company * Amazons, a tribe of female warriors in Greek mythology Amazon or Amazone may also refer to: Arts and entertainment Fictional characters * Amazon (Amalgam Comics) * Amazon, an alias of the Marvel supervillain Man-Killer * Amazons (DC Comics), a group of superhuman characters * The Amazon, a '' Diablo II'' character * The Amazon, a '' Pro Wrestling'' character * Amazon (''Dragon's Crown''), a character from the ''Dragon's Crown'' game * '' Kamen Rider Amazon'', title character in the fourth installment of the ''Kamen Rider'' series Film and television * ''The Amazons'' (1917 film), an American silent tragedy film * ''The Amazon'' (film), a 1921 German silent film * '' War Goddess'', also known as ''The Amazons'', a 1973 Italian adventure fantasy drama * ''Amazons'' (1984 f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Juggernaut
A juggernaut (), in current English usage, is a literal or metaphorical force regarded as merciless, destructive, and unstoppable. This English usage originates in the mid-nineteenth century. ''Juggernaut'' is the early rendering in English of Jagannath, an important deity in the Hindu traditions of eastern and north-eastern India. The meaning originates from the Hindu temple cars, which are chariots, often huge, used in processions or religious parades for Jagannath and other deities, the largest of which, once set into motion, are difficult to stop, steer or control by humans, on account of their massive weight. Since the Middle Ages, Europeans had been fascinated by accounts of the '' Ratha Yatra'' ( ) at Puri, which claimed that pilgrims threw themselves under the temple cars. However, by 1825 it was said: "That excess of fanaticism which formerly prompted the pilgrims to court death by throwing themselves in crowds under the wheels of the car of Jaganath, has happily lo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Experience Economy
An experience economy is the sale of memorable experiences to customers. The term was first used in a 1998 article by B. Joseph Pine II and James H. Gilmore describing the next economy following the agrarian economy, the industrial economy, and the most recent service economy. Business theory Joseph Pine II and James H. Gilmore argue that businesses must orchestrate memorable events for their customers, and that memory itself becomes the product: the "experience". More advanced experience businesses can begin charging for the value of the "transformation" that an experience offers, e.g. as education offerings might do if they were able to participate in the value that is created by the educated individual. This, they argue, is a natural progression in the value added by the business over and above its inputs. Although the concept of the experience economy was initially focused on business, observations and theories have crossed into tourism, and architecture. The experience ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
The Atlantic
''The Atlantic'' is an American magazine and multi-platform publisher based in Washington, D.C. It features articles on politics, foreign affairs, business and the economy, culture and the arts, technology, and science. It was founded in 1857 in Boston as ''The Atlantic Monthly'', a literary and cultural magazine that published leading writers' commentary on education, the abolition of slavery, and other major political issues of that time. Its founders included Francis H. Underwood and prominent writers Ralph Waldo Emerson, Oliver Wendell Holmes Sr., Henry Wadsworth Longfellow, Harriet Beecher Stowe, and John Greenleaf Whittier. James Russell Lowell was its first editor. During the 19th and 20th centuries, the magazine also published the annual ''The Atlantic Monthly Almanac''. The magazine was purchased in 1999 by businessman David G. Bradley, who fashioned it into a general editorial magazine primarily aimed at serious national readers and " thought leaders"; in 201 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Great Recession
The Great Recession was a period of market decline in economies around the world that occurred from late 2007 to mid-2009.“US Business Cycle Expansions and Contractions” United States NBER, or National Bureau of Economic Research, updated March 14, 2023. This government agency dates the Great Recession as starting in December 2007 and bottoming-out in June 2009. The scale and timing of the recession varied from country to country (see map). At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great Depression. The causes of the Great Recession include a combination of vulnerabilities that developed in the financial system ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
