Disney to cut down outlets in North America

Disney to shut at least 60 of its North American Disney stores as the multinational conglomerate sets eyes on e-commerce. On Wednesday, the Walt Disney Company announced closing 20 per cent of its total 300 outlets in the region amidst slightly better sales online during the pandemic.

Disney plans to focus more on bettering its shopDisney platform and Disney Parks apps for users and social media platforms, according to Stephanie Young, president of Disney Consumer Products, Games and Publishing. "While consumer behaviour has shifted toward online shopping, the global pandemic has changed what consumers expect from a retailer," said Young in a statement.

The Covid19 pandemic has forced people to rely more on online platforms, which has declined retail sales drastically over the past year. In November, Disney had revealed its revenue decline of 23 per cent and recorded a loss of $ 710 million, with most of its live amusement parks shut in the face of the pandemic. However, its streaming service Disney Plus is doing well, with over 94.9 million subscribers since its launch in November 2019.

The company is yet to announce if the downsizing strategy will impact other regions or its employees in Disney retail stores in North America.

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