Retailers are gearing up to close more stores this year than they have in two decades.
That is according to Kleiner Perkins Caulfield & Byers General Partner Mary Meeker’s 2017 Internet Trends report, which projected retail store closures will reach 7,000 in 2017, Retail Dive reports.
E-commerce growth is positioned to surpass 15% this year, according to the report, and while data is transforming to give marketers new options to reach consumers, Meeker said consumers are increasingly using ad blockers to escape advertisements. Despite that, the report said innovative retailers have found success by targeting consumers with a narrow selection of products and focused advertising content.
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