Is independent retail doomed?

Some would say that the sector isn’t dying, but instead that it’s evolving

First of two parts

HIGH POINT — There is a prophecy, often referred to as the “retail apocalypse,” that describes the decline of brick-and-mortar retail. The term emerged around 2017, influenced by the growth of e-commerce and closings accelerated by the COVID-19 pandemic. CBS News reported that more than 8,100 stores closed across the U.S. in 2025, representing an increase of approximately 12% from 2024. At a glance, these numbers do seem ominous. 

In conversations surrounding retail as a whole, independent retailers are often singled out as beyond salvation. The big-box stores and national chains will swallow them up. They’re toast. But jumping straight to doomsday is reductionist. Retail — particularly independent retail — is evolving, not outright disappearing.

This discourse reminds me of the long-heralded decline of print media. Has it changed? Of course. People want news faster, so online has more appeal. Have people stopped reading? Of course not. People still want news. On a long enough timeline, every industry recalibrates. Increasingly, publications are going digital first and, similarly, retailers are focused on digital strategies. In today’s landscape, it’s important, but it’s only part of the equation. 

For this column — which is split into two parts — I spoke with retailers across the U.S. Zoomed out, the story of independent retailers sounds bleak. But on the ground, a different story emerges. For example, I interviewed a single-store retailer that did $23 million in sales in 2025. They intentionally have no e-commerce. (More on that later.) There is no one-size-fits-all approach. 

That’s not to say there haven’t been major closings of independents. Weir’s Furniture, for example, a 78-year-old retailer with four stores in the Dallas metropolitan area, recently announced it is going out of business. According to a statement from its board of directors, the decision was made after examining the company’s “long-term financial position, difficult market conditions and operational challenges.” It’s always a sad day for the industry when we hear such announcements.

Peter Theran, president of the Home Furnishings Association, said he often gets calls when retail closings make the news. 

“I wouldn’t overreact to every retailer that you hear is exiting the industry,” Theran said. “It isn’t always an indication of broader problems.” He added that sometimes it is as simple as the natural ebb and flow of things. 

“There are only a couple of Sears stores left in the country,” Theran added. “The nature of retail is that very successful industry-leading retailers, over time, are sometimes not a reflection of what customers want anymore. What made them successful is actually their greatest liability today. And that’s how retail is. Retailers sometimes just go out of fashion and fade away.”

Beyond those natural cycles, there are real macroeconomic pressures affecting the industry.

“The one thing that is very evident over the past five years is the furniture industry has been more than resilient,” said Henry Chionouma, senior vice president of business development at financial software company Atlanticus. “We’ve been the ones who’ve been dealing with hit after hit after hit. If it’s not COVID, then it’s an inventory shortage. If it’s not an inventory shortage, then it’s tariffs. There’s always been something that continues to hit and disrupt our furniture industry, but they continue to press on to evolve.”

There are also some notable differences in consumer behavior that are reshaping the industry. 

“One, everybody says traffic is down, and we know that,” Theran said. “That’s not an opinion. Traffic has been down. A lot of that is related to the housing market, and that will fix itself over time.” PBS reported that U.S. home sales in 2025 were stuck at a 30-year low. 

But Theran said he is also hearing that customers are making more considered purchases. 

“What might have been a two- or three-visit sale is now a three- or four-visit sale,” Theran said. “It’s a slower process. On the other hand, I consistently hear average tickets are going up.”

Ryan Farris, who owns Oklahoma City-based Mattress King, has observed this trend across his six retail locations. Farris said in Q1 2026, his door counters were down 8% compared to Q1 2025. 

“We are seeing a distinct shift: Our average ticket is increasing while lower-end price points have slowed considerably,” Farris said. “This increase in quality and ticket price is what has allowed us to maintain growth despite the drop in foot traffic.” 

Theran continued: “The person who comes through the door is a deeper opportunity than historically, but fewer people are coming through the door.” The upside? The person who does come through the door is typically very committed to making changes in their home. 

“They are looking to take their time and make a very substantial change at a larger ticket and make more changes in more spaces in their home,” Theran said. 

Theran’s advice to retailers in general? “Adjust your engagement to be prepared to give that person more time, more resources, more help making a more complex decision, because that’s the opportunity they’re presenting to you.”

In other words, fewer customers, but more intentional ones. Retail, like the media landscape, is changing, but that doesn’t mean it’s dying. So why are some independents closing while others are growing? That’s where the story gets more interesting.

In part two of this column, I’ll take a closer look at independent retailers, what their biggest advantage over chains is and why it may also be their greatest opportunity.