Why are the majority of Disney stores closing in the US

1. Why are the majority of Disney stores closing in the US?

2. Disney stores have been the retail centres for kids, and sometimes adults alike- a place where one’s childhood dreams get concretized to reality. Even the word ‘Disney’ tugs at a magical cord between every human being who watches or has watched Disney animation while growing up. The perennial popularity of the brand name Disney has led to the opening of several Disney stores in the blink of an eye all over the world. Earlier this year in March, when Disney announced the closing of about 25 % of its physical stores, the entire world could smell trouble in paradise. However, on further investigation, the reality turned out to be slightly different. While most would assume that Disney has incurred a huge loss, as have other companies, owing to the pandemic, the company came clean about the reason behind such massive closures of the Disney stores. The reason behind shutting Disney Shops In the context of the post-pandemic era, the world seems to have been sucked into the vortex of digital platforms. Every shopping experience that included casually strolling through the aisles of huge stores seems like a distant memory now. Disney stores had a similar feel where even a visit to the place would make a person reminisce about their childhood fondly. Disney decided to act upon this transition that the world in general, and retail in particular is going through. The company announced the shutting down of 25% of its Disney stores in the month of Marcg because of the increasing shift in consumer behaviour towards e-commerce. Disney never had an e-commerce space in Canada and never did it attempt to own a warehouse for fulfillment of products in terms of ship and store transport or the other way round. The online orders placed by the customers would then incur taxes and shipping fees because of governmental regulations. While everyone doubted the seeds of a liquidation of the company’s assets buried within this sudden move, Disney clarified that the stores within the amusement parks and in-house Target stores would remain untouched. The organisation further announced the opening of about a hundred new Disney shops under Target. The aim of this is for Disney to provide a more personalised, targeted and coherent customer experience, thereby adapting to the changing circumstances globally.

3. Details about the closures In the year 2008, The Disney company and co acquired the company initially from Children’s Place Retail Stores Inc.. they acquired as many as two hundred locations which were purchased in the United States and Canada. The company operated under the consumer product division of Disney till 2018 after which the stores were amalgamated under the newer section of Parks, experience and consumer products. This section was previously under the leadership of Bob Chapek. Chapek was elected as the CEO of the Walt Disney Co. in the month of february,2020. Chapek then renamed Josh D’ Amaro in his prior position of chairman of Disney Parks experiences and products. About sixty locations across the US are to be shut down by the 15th of September. When the announcement of Disney stores closing was made, according to calculations, it comprised about 75% of the stores in America itself. People immediately became curious about which Disney stores are closing in California after the first round of closures shut almost a dozen stores. You can read the full content: https://businessupside.com /2021/09/05/why-are-the- majority-of-disney-stores- closing-in-the-us/ -------------------------- Business Upside

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