US Store Closures Expected to Surge in 2025: Retail Apocalypse Looms

A surge in store closures is expected in 2025, with the number of closings potentially doubling compared to 2024. According to data released by Coresight Research, there were 7,325 confirmed store closures in the U.S. in 2024, a nearly 3,000 increase from the previous year.

While store openings are expected to remain stable, Coresight Research expects a significant jump in closings next year. This trend is attributed to inflation and consumers' growing preference for online shopping.

Notably, Coresight tracked 10,000 store closings in 2020 amid the global pandemic. The coming year could be even more challenging for retailers and customers.

Coresight expects numerous store closings by Party City, Big Lots, Kohl’s, and Macy’s in 2025, which will inflate the numbers. There were already 2,000 stores slated to close next year.

On a positive note, some brands expanded their footprints in 2024, such as Dollar General and 7-Eleven. Family Dollar, CVS, and Big Lots had the most closures in 2024.