Retailpocalyse continues as Target stores close across Australia

Back in January I warned that the “retail bloodbath has only just begun”, given the absence of income growth, gargantuan household debt levels, and the shift in retail purchases away from bricks-and-mortar to online and digital platforms.

The COVID-19 pandemic has obviously accentuated these problems, with Target the first major store chain to shutter amid the coronavirus economic collapse:

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