Daymond John‘s issuing a dire warning to most brick-and-mortar retail stores struggling during the coronavirus pandemic … adapt or die.
The “Shark Tank” star joined us Thursday on “TMZ Live” and said — with most of the nation under stay-at-home orders — now is the time for businesses that usually rely on foot traffic to find new ways to thrive.
Let’s face it, most retail stores typically in malls and shopping plazas were already struggling, but the pandemic closures are speeding up their demise. Daymond says luxury stores like Louis Vuitton, or superstores like Target and Walmart, will survive — but most others will have to add offer some value to customers besides their product.
He says the future is in direct sales, just like a company he invested in on “Shark Tank.” Smart plug, Daymond!
As for what happens to all those stores that will be forced out of business? Well, that’s a lot of empty real estate, and Daymond has an idea about who will be moving in … and it’s good news for potential homeowners and renters.