More Stores Open Than Close for First Time in Five Years

More retailers are expected to open more physical stores than closing them for the first time in five years, according to an analysis of more than 900 chains by IHL Group, a research and advisory company, reports The Wall Street Journal.

Dollar General expects to open 1,000-plus stores in 2022, followed by Dollar Tree (nearly 500), which just increased prices by 25 cents because of rising costs of goods and freight. Merchants, food, drug and convenience chains are spurring the growth, which industry executives and analysts say is happening because physical stores hold a lot of value.

“It’s not like it’s stores against e-commerce anymore,” Brendan Witcher, a Forrester Research principal analyst, told the news outlet. “They play an integral role in supporting each other. The old story that stores are dead is simply not true.”

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