"There's roughly 52 square feet of retail space per person in the US, compared to 19 square feet of retail space in the UK, according to CoStar.The Macy's that anchors what's left of what used to be an indoor mall just up the road is making the go-aways, probably finally killed off by the super Target across the parking lot. (And the super Target is likely feeling the pinch from the new Meijer.)
This market oversaturation suggests the US is still in the "early innings" of mass store closures, according to a report last October by the advisory firm Cowen and Company."