Let's not confuse the "retail apocalypse" with real changes in consumer behavior

We see so many headlines about the "retail apocalypse" - and hear so many debates about whether it is real or not. It is true that some proportion of the many chain store closures in the past few years is because the chains expanded too rapidly and were over-leveraged. But it is also true that, at this point in 2019, there have already been more chain store closures than in all of 2018. Under all the rhetoric about the retail apocalypse, there are some profound demographic, psychographic, and economic shifts taking place that are shaping a new retail reality. It's important to separate these two parallel phenomena.