Disney to close at least 60 stores, focus on e-commerce

The Walt Disney Company is going to close at least 60 Disney retail stores in North America this year, about 20 per cent of its worldwide total, as it revamps its digital shopping platforms to focus on e-commerce, the company said on Wednesday.

The media and entertainment company also is evaluating a significant reduction of stores in Europe, a spokesperson said, adding that locations in Japan and China would not be affected, reports Reuters.

Disney currently operates roughly 300 Disney stores around the globe.

"While consumer behavior has shifted toward online shopping, the global pandemic has changed what consumers expect from a retailer," said Stephanie Young, president of Disney's consumer products, games and publishing.

Over the past few years, Disney has expanded its shops inside other retailers such as Target in the United States and Alshaya Group stores in the Middle East. Those locations would continue to operate, as well as stores inside Disney parks. Disney-licensed products also would remain widely available through third-party retailers.

Young hinted that Disney would overhaul its shopDisney apps and websites over the next year.

Digital shopping gives Disney a chance to offer a much broader selection and include higher-end products from all of its Disney, Pixar, Marvel and Star Wars brands.

In November, Disney launched digital marketplaces in Australia, New Zealand and India.