Another wave of closures refers to the frequent announcements of store closures or relocations that have become increasingly common across the region in recent times.

With the rise of online shopping and changes in consumer spending patterns, many brick-and-mortar stores are facing the risk of closure or relocation due to declining turnover. At the same time, rent and labor costs are rising, putting more pressure on brick-and-mortar store owners.

Despite the many supportive policies given by the government, brick-and-mortar stores are still facing challenges from many competitors, such as new retailers, and changes in consumer spending habits.

In this context, many brick-and-mortar stores have chosen to launch online businesses or cooperate with online platforms as a way to increase sales channels and broaden the market.

Meanwhile, some brick-and-mortar stores have begun to diversify their operations, such as adding consumer scenarios such as coffee and catering, to attract more consumers. In addition, brick-and-mortar stores are also working on improving service quality and innovating business concepts to adapt to changes in the market.

So behind the wave of closures, there are some brick-and-mortar stores that have chosen to make positive changes and innovations, expecting to be invincible in the fierce market competition.

Overall, the emergence of another wave of closures does not mean that the decline of the physical stores, on the contrary, we should pay more attention to the physical stores in the existing plight of the positive response and innovative practices, to create a more favorable environment for the development of physical stores.

At the same time, the government, industry associations and other should also strengthen the policy support, such as reducing rent, tax exemptions, etc., to help brick-and-mortar stores **** through the difficult times, to promote the healthy development of the real economy.