Retailpocalypse (Scenario: A New Cold War)
In economics, the retailpocalypse, short for retail apocalypse, was the closing of many physical retail stores that occurred from 2009 to 2022. The retailpocalypse is agreed to be caused by the Market Crash 2008-2009, and the following recession. Many factors have been proposed and proved, such as the over-expansion of malls, changes in spending habit, the decline of the American middle class, and e-commerce. Some modern economists say this is a forerunner to the Market Crash of 2033. The retailpocalypse directly caused the "popping" of the mall bubble.
The retailpocalypse also affected low-priced stores, as e-commerce threatened their business more heavily then other retail stores.
As a result of Millennial shopping habit, many retail stores and physical businesses were affected, seeing many closures and liquidations. Though this stopped as the Centennials, or Gen Z, became adults, seeing the revival of physical business in place of online shopping. Despite this, it was not enough to keep the retail industry afloat, and many stores and brands closed.
Many retail stores since recovered, a prime example being Best Buy, which used some strategies to offer services that e-commerce could not compete with, securing its business until it went fully online in 2031. Though some have closed down, one being Sears which filed for Chapter 11 bankruptcy in 2025 and 2029. Sears closed its last physical store in 2027.