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The Atlantis Report 8/16/23
"Amazon Is Wiping Out Thousands
Of Stores As Economic Crisis Continues"
"The impact of the Amazon Effect on the retail industry has been nothing short of transformative, giving rise to what is now known as the "Retail Apocalypse." As consumers increasingly turn to online shopping, brick-and-mortar stores have faced a relentless onslaught of challenges. Amazon's remarkable growth has reshaped the retail landscape, driving a significant shift in consumer behavior. Since its entry into the market in 2005, Amazon has been responsible for nearly half of all retail industry growth, while accounting for a staggering 31% of all retail purchases. This massive market share has left many traditional retailers struggling to compete. The once-vibrant shopping districts that housed bustling stores are now witnessing a wave of closures and bankruptcies, with over 500,000 retail stores closed since 2005. While other factors have contributed to this retail upheaval, Amazon's dominance in various sectors, from books to electronics, has played a pivotal role in shaping the retail apocalypse we see today."
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