Upgraded Points has just released a new report looking at the U.S. locations where brick-and-mortar retail is declining the fastest. I thought the report might be interesting to your readers.
Holiday spending in the U.S. is estimated to total nearly $1 trillion this year, as shoppers rush to buy gifts, food, and decorations and take advantage of retailers’ steep discounts. However, this strong consumer spending obscures the growing shift toward e-commerce, and the decline of brick-and-mortar retail.
Here are the key takeaways from the report for New York State:
- Between 2011 and 2021, New York State experienced a 13.0% decline in the number of brick-and-mortar retail stores per capita.
- As a result, there are just 3.3 brick-and-mortar retail stores for every 1,000 New York State residents.
- Overall, New York State is seeing a faster decline in its brick-and-mortar retail than the nation as a whole (-12.6%).
Here is a link to the complete results of the analysis, with data on more than 350 metros and all 50 states.