Bose Is Closing Up Shop In The US, Europe, Japan And Australia
Popular audio brand Bose has announced it is closing a significant number of its stores. The Verge reports that the company made the decision due to the popularity of online shopping and reduced consumer interest in brick-and-mortar stores.
Bose is closing up shop in the US, Europe, Japan and Australia
Audio equipment manufacturer Bose is closing 119 retail stores globally over the next several months, including all brick and mortar shops in North America, Europe, Japan and Australia, Billboard has confirmed.
Gadget enthusiasts woke up this morning to some surprising news that Bose ($PRIVATE:BOSE) would be closing all 119 stores throughout North America, Europe, Japan, and Australia. The company cited the usual Retail Apocalypse reasons: decreased brick-and-mortar shoppers and e-commerce as a viable alternative.
Bose, which sells premium audio equipment, has also been affected by this trend and, as a result, will soon be closing all of its retail stores in North America, Europe, Japan, and Australia, citing "the dramatic shift to online shopping" in these markets.
Back in January, the audio company said it was in the process of closing 119 store locations across North America, Europe, Australia and Japan, citing a "dramatic shift to online shopping" as the reason -- even before the coronavirus pandemic further pressured brick and mortar retailers. Snyder's background in e-commerce suggests Bose will continue its shift toward online selling and marketing.