Nov 24, 2017

10 big things: The future of retail

Illustration: Rebecca Zisser Axios

2017 has been retail's year of reckoning. For decades, brick-and-mortar retailers have taken on too much debt, built too many stores, and failed to understand the potential or practicalities of e-commerce. The price of these missteps have been steep: More than 6,000 stores have closed so far in 2017, the most of any year on record, and there are 65,000 fewer retail jobs in America than in January of this year.

On the other side of those stats is Amazon, which is taking an ever-growing slice of a rapidly expanding e-commerce pie, along with its army of third-party sellers. The Amazon revolution is one symptom of the growing dominance of mega tech firms that are changing the way America works and shops.

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No one knows when the coronavirus sports shutdown will end

Data: Morning Consult National Tracking Poll of 1,512 self-reported sports fans, April 3-5, 2020; MOE ± 3%; Chart: Axios Visuals

It's been 26 days since the sports world effectively shuttered, and fans are eager to start watching games again, but not quite as eager to attend them.

The state of play: According to a new Morning Consult poll, 51% of fans think live sports will return between June and September, while only 8% think the void will bleed into 2021.

Go deeperArrow15 mins ago - Sports

The coronavirus outbreak will forever change the world economy

Illustration: Sarah Grillo/Axios

Both the U.S. and global economies are set to be permanently altered by the coronavirus outbreak and the measures that have been taken in response to it, experts say.

The state of play: "Fundamentally there are going to be huge changes in household consumption patterns, business patterns and global supply chains," Kevin Warsh, a former Fed governor and current economics lecturer at Stanford, said during a Reuters teleconference.

Coronavirus breaks the telecom bundle

Reproduced from Park Associates "Broadband Services in the U.S." report; Note: 2019 survey was conducted in Q3, with 10,059 respondents and a ±1% margin of error; Chart: Axios Visuals

Consumers are adopting stand-alone broadband services at a much higher rate than just two years ago, and analysts predict that the economic downturn prompted by the COVID-19 outbreak will accelerate the trend.

Why it matters: With a recession looming, consumers may look to cut pay TV service in favor of more robust standalone internet packages once they're free to leave their homes.