Major store closures at Burbank Town Center are sign of times, retail experts say
"There's not a lot that businesses can do," said one expert.
BURBANK, Calif. (KABC) -- A troubling trend is visible in many commercial areas across Southern California as brick-and-mortar retailers continue to shut down, but what's in store for the future?
Two big box retailers - Bed, Bath & Beyond and Sears - will no longer live in the Burbank Town Center.
Shoppers who spoke with Eyewitness News blamed it on one thing: coronavirus.
"I think the COVID-19 pandemic definitely slowed things down and with like, technology, we can order things online, giving people less reason to go to the mall," said Christian Nunez.
During the pandemic, Amazon and other online retailers saw sales explode as more and more people chose to shop from home. It appears to be the trend and it's hurting some retail stores that simply can't compete.
"Obviously, rent's going up, the cost of insurance is going up, labor costs are going up," explained Stuart Waldman with the Valley Industry and Commerce Association. "There's not a lot that businesses can do, and in many cases, businesses have made that decision that they just can't continue to be around and survive."
Bed, Bath & Beyond recently announced its plans to close 150 stores across the country. Sears has less than 200 stores left.
Eyewitness News reached out to the Burbank Town Center about the closures but has not received a response.
Waldman said as other stores look to the future and see increased costs - consumers should expect more closures and loss of jobs.
"At a certain point, there's just not going to be the jobs and with the coming recession, I think a lot of businesses that are looking at it and saying, 'Yeah, this is a decision that we have to make.'"
