Retail Decline: The Impact On Binghamton

If you've lived in the Binghamton area for any amount of time, you've probably noticed a drop in brick-and-mortar retail stores in the past few years. According to a study by Upgraded Points, Binghamton lost around 13.8% of its physical retail spots between 2011 and 2021. That's pretty significant!

Get our free mobile app

This decline isn't only happening in Binghamton, it's happening everywhere across the United State. More people are doing their shopping online and buying things from the comfort of their own homes. In fact, e-commerce sales went from making up just 0.9% of retail sales in 2000, to 14.6% in 2020. That's crazy growth!

The COVID-19 pandemic made the whole online shopping trend grow faster. Many physical retail stores had to shut down temporarily or even permanently, as customers turned to online shopping for safety and convenience. It's been a tough time for the brick-and-mortar shops.

According to the same study, cities like Silicon Valley and others in the West and Midwest have been hit harder than places in the South. I think I know why but I'm going to keep my thoughts to myself. If you know, you know.

It's not all doom and gloom, there are still some independent retail stores that have managed to weather the storm. These stores cater to people who want to support local businesses and find unique and special items.

The future of retail is definitely up in the air, with new technologies and changing shopping habits. We don't know what will happen for sure but there's a chance we'll see a resurgence of brick-and-mortar stores with a fresh twist!

For now, if you're in Binghamton and looking to do some shopping, I hope you'll support locally owned stores that are still standing strong. They definitely deserve our support!