Main Street retail fears grow

Why it matters: The pandemic accelerated the decline of retail stores and this latest study adds to the expectation that more than 150,000 stores may close in the next five years.

• About 89% of local retailers surveyed say they are in competition with online retailers.
• And of those, 59% say they may be forced to close their business within the next 24 months.

State of play: In some cases, businesses are using their stores as last-mile delivery solutions to complement their e-commerce strategy — fulfilling online orders while providing a local presence.