While some people love to chatter about a looming "retail apocalypse," Goldman Sachs says not so fast. On Thursday, the firm offered up a number of reasons why physical retail can and will live on.
Store-based retailers must approach the current situation — a rapidly evolving environment — with a fresher approach and a strategy that keeps the threat of digital dominance top of mind, Goldman said.
"The U.S. retail sector is overstored and out of step in an era of e-commerce," Goldman analyst Matthew Fassler wrote in a note to clients. "But retail is not dead; it is changing. How brick-and-mortar stores employ new technologies and new models may determine how they survive the relentless shift online."
"The retailer of the future will likely be a retailer of the past — just the most efficient version therein." And let's not forget what's at stake: the more than 15 million jobs that are tied directly to store-based retailers in 2017. That's a lot of people dedicated to physical retail's cause, he said.