MARKET UPDATE: Retail Stores are Struggling in Los Angeles [Economic Warning Signs, Summer 2021]

The aftermath of the shutdowns has left many storefronts vacant in Los Angeles. As you drive through Beverly Hills commercial districts and various other high-value commercial districts (high value in the past) you will see multiple stores for lease.

This is impacting the entire economy as multiple businesses rely on these stores for revenue from cleaning services to landlords to banks to product producers, and various other organizations in these business ecosystems.

The pandemic has created fear, uncertainty, and inconsistency in these business markets which does not bode well for the retail sector. Amazon is snapping up vacant stores and replacing them with Amazon Storage Lockers. Technology and e-commerce are also worsening the situation as people have shifted online to purchase goods and services.

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