The era of the teeny store is upon us. In America's prime shopping destinations, stores now feature just a few racks of clothing, shifting from the excess of old department stores to a more curated experience.
Despite bleak predictions about the decline of physical stores due to e-commerce, more brick-and-mortar locations opened than closed in the first half of this year, showing resilience in retail.
Many major brands such as Nordstrom and Macy's have started experimenting with smaller locations. This shift reflects a strategic adaptation to online retail rather than direct competition.
The average retail space size is now the smallest it has been in nearly two decades, illustrating a significant trend towards smaller, more efficient stores in the face of rising e-commerce.
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