The next wave to hit Main Street
August 6, 2020 | Dion Rabouin, Kim Hart | Axios
Call it the great retail wash. A wave of defaults, bankruptcies and evictions expected in cities across the U.S. is poised to remake the retail landscape across the country, but there may be some upside for consumers and small businesses.
Why it matters: Rather than an overnight descent into a collection of urban wastelands full of Starbucks, Amazon fulfillment centers, Chase bank branches and nothing else, the coronavirus pandemic and resulting retail apocalypse may just mean that, in major U.S. cities, less is more.
What it means: The world after the COVID apocalypse will likely include fewer malls and the end of some American business mainstays. But experts also expect it to bring lower rents, cleaner buildings and the opportunity for companies that have invested in quality to outperform.
