E-commerce has been blamed for the problems in the U.S. retail sector. The fact is, however, that the retail market is oversaturated, and it has been that way for some time.
There is too much retail square footage per capita. Currently, it is just under 47 sq. ft., down from a peak of around 48 sq. ft. in 2009.
By closing stores, retailers are correcting the over-saturation.
Not only closures, but reinvention will save retail. Aside from web portals, department store chains that survive will dedicate more in-store spaces to experiences that appeal to their core audience.