What do Sears, RadioShack and Bebe have in common? They’re closing brick-and-mortar stores. And, they aren’t alone. As of mid-June, 4,789 store closure announcements had been made this year, a 286 percent increase from a year ago, according to Fung Global Retail & Technology.
That trend is certainly concerning, but in this month’s issue of Floral Management magazine, Brad Denham of Arizona Family Florist in Phoenix argues the situation also presents some real opportunities for florists.
“Many of these retailers closing stores are opting out of the high cost of brick and mortar retail locations with a plan to focus their efforts solely online,” he writes. “In 2017, that’s an important lesson for businesses of any size to consider. More to my point, however, I see two main opportunities for growth emerging from this trend.”
Read more about those two opportunities, and why it might be time to renegotiate your own lease.