Letters to the Editor do not reflect the opinions of The Reporter, its publisher or its staff. You can submit your own Letter to the Editor by email to News@ReadTheReporter.com.
Dear Editor:
Last week’s report that retail store closings thus far in 2019 exceed those of all of 2018 comes as no surprise in Carmel.
Coresight Research analysis also noted fewer openings thus far than in all of 2018, as well. An Indianapolis Business Journal article said the numbers indicate “that traditional retailers are struggling to respond to shoppers’ increasing shift online even as they’re working hard to reinvent their businesses” in the Information Age.
Carmelonians have known for months of the 20-plus vacant storefronts in Merchant’s Square, alone. A slow (is there any other way?) drive down Range Line Road produces a handful more.
City Hall’s helpful answer to a growing national retail meltdown? Build more high-rent retail space.
We all can see what happens when over-supply meets under-demand. When it happens with $1.3 billion in borrowed money, it’s scary.
Bill Shaffer
Carmel