Introduction
The trend of Essential Retailers closing stores is accelerating, as more and more chains are struggling to cope with rising costs, labor shortages, and competition from online retailers.
In the latest round of closures, Walgreens announced in October 2023 that it would be closing an additional 200 stores in the US. Rite Aid is also reportedly considering closing up to 100 stores.
Other Essential retailers that have announced Store Closures in recent months include:
CVS Health: 900 stores
Kroger: 200 stores
Albertsons: 150 stores
Safeway: 100 stores
Dollar General: 100 stores
The store closures are having a significant impact on communities, as they are often the only places where people can buy essential goods and services. For example, in rural areas, grocery store closures can leave people with limited access to fresh food.
The store closures are also having a negative impact on employees, who are losing their jobs and facing reduced opportunities for career growth.
The government can take a number of steps to help essential retailers, such as providing tax breaks and other financial assistance. The government can also help essential retailers to find and retain workers by providing job training programs and other support services.
In addition, the government can take steps to address the rising cost of labor, transportation, and other expenses. For example, the government can invest in infrastructure to reduce transportation costs.
However, the government has not yet taken any significant steps to help essential retailers. As a result, the trend of store closures is likely to continue in the coming months and years.
What can consumers do to help essential retailers?
Consumers can help essential retailers by shopping at their local stores and supporting their communities. Consumers can also contact their elected officials and urge them to take steps to help essential retailers.
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