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Do big store shutdowns offer a new opportunity to small business

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Top Contributor
# 1
Top Contributor

I saw the following story on the web today and I clicked on the link and went through the gallery of stores will be closing that was on the page. They all seem to be locations of big chain stores which have been blamed for ruining local economies. Does this trend of contraction by big chain stores signal an opportunity for small, local businesses that they can once again flourish?

 

 

http://www.pennlive.com/nation-world/2016/07/the_16_fastest_shrinking_retai.html

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Re: Do big store shutdowns offer a new opportunity to small business

Google Employee
# 2
Google Employee

Interesting question, @MikeJohnston! I'm wondering how often large big box retailers close in my area; if anything I've noticed more popping up. I think the local small businesses do a much better job of catering to specific niches as well as excelling in customer service (and product knowledge). I'm wondering how many of these bigger retailers are now closing due to too rapid expansion (versus an overall drop in revenue due to a lack of demand)? How many of these stores are suffering now due to competing product availability online?

Re: Do big store shutdowns offer a new opportunity to small business

Top Contributor
# 3
Top Contributor
I think that online sales from Amazon and other sites as well as smaller sellers are hurting the big chain stores despite their own efforts at online sales.

Re: Do big store shutdowns offer a new opportunity to small business

Top Contributor
# 4
Top Contributor
BTW I went through a town in New Jersey today called Brielle