• Home
  • Community Banks
  • Merchants
  • News
  • Home
  • Community Banks

    Community Banks

    We take pride in creating a merchant services program that complements each of our partners’ unique circumstances within its respective community, all while maximizing the program’s efficiency and revenue opportunities.

    About the Program

    Bank Home
    Dashboard
    Ancillary Products
    Program Overview
    Marketing Resources
  • Merchants
  • News

    FiNet & Industry News

    44% of consumers say they would switch merchants over card surcharges

    June 15, 2022
    Read More »

    Retailers Face Brand New Competitor: Gas Prices

    March 7, 2022
    Read More »

    Bank groups spell out payments industry concerns

    December 10, 2021
    Read More »

    23% Global eCommerce spike coming between Thanksgiving and Cyber Monday

    November 23, 2021
    Read More »

    CBD Payment Processing Has Arrived

    November 11, 2021
    Read More »

    How banks and payments providers can protect customers, merchants from fraud threats

    October 4, 2021
    Read More »
  • Contact Us

    Contact Us

    Our industry-leading service team and business consultants are just a phone call or click away. 

    p:  800.487.5577
    f:   866.476.8416

    info@finet.net

    Facebook Twitter Youtube

    Hours of Operation

    Monday – Friday: 8:30 am – 5:00 pm ET

    After-hours “emergency” support is available by calling the appropriate 24/7 help desk for your processing service. Consult your program documentation or the sticker on your terminal hardware for the appropriate contact information.

     

  • Home
  • Community Banks

    Community Banks

    We take pride in creating a merchant services program that complements each of our partners’ unique circumstances within its respective community, all while maximizing the program’s efficiency and revenue opportunities.

    About the Program

    Bank Home
    Dashboard
    Ancillary Products
    Program Overview
    Marketing Resources
  • Merchants
  • News

    FiNet & Industry News

    44% of consumers say they would switch merchants over card surcharges

    June 15, 2022
    Read More »

    Retailers Face Brand New Competitor: Gas Prices

    March 7, 2022
    Read More »

    Bank groups spell out payments industry concerns

    December 10, 2021
    Read More »

    23% Global eCommerce spike coming between Thanksgiving and Cyber Monday

    November 23, 2021
    Read More »

    CBD Payment Processing Has Arrived

    November 11, 2021
    Read More »

    How banks and payments providers can protect customers, merchants from fraud threats

    October 4, 2021
    Read More »
  • Contact Us

    Contact Us

    Our industry-leading service team and business consultants are just a phone call or click away. 

    p:  800.487.5577
    f:   866.476.8416

    info@finet.net

    Facebook Twitter Youtube

    Hours of Operation

    Monday – Friday: 8:30 am – 5:00 pm ET

    After-hours “emergency” support is available by calling the appropriate 24/7 help desk for your processing service. Consult your program documentation or the sticker on your terminal hardware for the appropriate contact information.

     

Retail Trends

Report: 80,000 US retailers could close by 2026; Strong eCommerce growth in same period

FiNet
April 7, 2021

A new UBS report says as many as 80,000 U.S. retail stores, or about 9 percent of the country’s total, could close by 2026, CNBC reports.

The pace of store closures is down from its 2019 peak, but the report says the country might still have too much retail per capita.

At the end of 2020 there were 115,000 shopping centers, including strip centers, malls, outlet and other lifestyle centers in the U.S. That’s compared with 112,000 in 2010 and 90,000 in 2000.

This comes out to around 59 square feet of shopping center space per U.S. household — a slight decrease from the 62 feet from 2010, but still better than the 55 square feet from 2000 and 49 from 1990.

Now, UBS is expecting the proliferation of eCommerce to continue.

“An enduring legacy of the pandemic is that online penetration rose sharply,” analyst Michael Lasser said, according to CNBC. “We expect that it will continue to increase, which will drive further rationalization of retail stores, especially as some of the unique support measures from the government subside.”

eCommerce could rise to be around 27 percent of total retail sales by then, an increase from 18 percent now.

For now, though, store openings are still at a good pace, even in spite of the digital emergence that happened during the pandemic. There have been numerous businesses taking advantage of the cheaper rents from the COVID era, for example, with a lot of empty spaces to pick from.

Much of the growth has come from retailers working in beauty, grocery and discount goods.

So far this year, the U.S. has reported 3,169 store closures and 3,535 store openings, CNBC reported.

Some iconic retailers, including J.C. Penney, have been on the verge of closing down — though many retailers don’t die, but instead end up coming back in different form. J.C. Penney has done that now with a new slimmed-down model where it’s operating only about two-thirds of what it once had. The company is working with fewer vendors and adding more private labels to help with cash flow.

Source: PYMNTS.com


Thinking outside the box on serving small businesses
Previous Article
Mastercard: Digital-Shift Spurs $900B New eCommerce Spend
Next Article

7355 California Avenue
Boardman, OH 44512
p: 330.702.8415
    800.487.5577
f: 330.702.8416
    866.476.8416

© 2022 FiNet, Inc.

FiNet is a registered ISO/MSP of BMO Harris Bank NA

Privacy Policy
Envelope Facebook-f Twitter Linkedin Youtube

Community Banks

Community Banks Home
Program Overview
Dashboard
Marketing Resources
Ancillary Products

Merchants

Processing Services
Business Mgmt/Payments
Retail POS Systems
Additional Solutions
FREE Cost Analysis

Company

News
Contact Us
Click to access the login or register cheese