Is online shopping taking over the retail market? Its bad enough were suffering from a recession. GAP which has been in business since 1969 has now decided that in order to keep their company afloat they are closing stores in North America and opening stores in China. They have over 3,200 stores worldwide. In North America alone they stand at 889 and our planning to minimize their number of stores to about 700, falling 21%. Something that may come as a concern or may help them beat this downfall is that they own Old Navy and Banana Republic.
Not only is the recession a factor to their decrease in numbers but their stuff is simply basic and “boring”. GAP even said that they were not able to come up with new fresh styles and trends to compete with other stores. GAP has even replaced their top designer in February and there’s no give. All in all, GAP has come to find better number in sales on their online shopping sites. Online shopping has already taken over several malls. The closing of these stores is just an addition to a possible downfall in our malls and not to mention it will put many people out of jobs.