These 7 Online Retailers Are Most Likely To Go Bankrupt and Close In 2024

Shopping online can be an easy way to save money , get the products you need, and have them delivered to your door.

But not every online retailer achieves success. In fact, some are now struggling, and others are showing signs of impending doom.

Here are seven online retailers that might not make it to the end of the year.

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1. Stitch Fix

Stitch Fix customers receive boxes with everything they need for the perfect outfit — including shirts, pants, and even shoes.

However, sales are fading at the subscription clothing retailer, and customers are disappearing. There is some hope that new CEO Matt Baer — who has worked at Walmart and Macy’s — will turn things around.

2. Wayfair

Online home goods retailer Wayfair is going through some tough times. In January, the company announced it was laying off 1,650 employees.

Wayfair CEO and co-founder Niraj Shah told employees the company may have hired too many people during the COVID-19 pandemic and that cuts were necessary to save almost $300 million.

3. Rent the Runway

A decline in runway rentals might be weighing down Rent the Runway.

The retailer — which allows customers to rent looks and return them — announced layoffs earlier this year, with 10% of its workforce getting pink slips.

Anushka Salinas, chief operating officer and president of the company, resigned from Rent the Runway in January.

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4. Marley Spoon

Meal kit services such as Blue Apron or HelloFresh allow customers to make fresh home-cooked meals with ingredients and recipes that are sent directly to the customer’s home.

But meal kit retailer Marley Spoon has struggled. It recently sold some of its assets to decrease costs in hopes of staying competitive in the online meal delivery market.

5. Groupon

Groupon has long been a place to get deals on products or experiences. But the company has found itself hitting a rocky patch lately.

Last year, Groupon laid off employees, and executives acknowledged deep financial problems.

6. Farfetch

Online retailer Farfetch has been a great place for customers shopping for high-end luxury options for women, men, and kids.

But the company struggled last year and was on the verge of bankruptcy before being bought for $500 million in mid-December.

The sale of the retailer to Coupang, which is based in South Korea, could keep Farfetch afloat. But the future is far from certain.

7. Parts ID

Parts ID recently filed for bankruptcy. The online retail site sells parts for cars, trucks, and campers.

The company cited supply chain issues and other economic woes as reasons why it had to declare bankruptcy.

Bottom line

Shopping online is a great way to save on groceries , electronics, clothes, and countless other goods. Savvy shoppers use the internet to find the best deals by comparison shopping.

But some of your favorite retailers might not make it to the end of the year. Throughout 2024, keep an eye out to see whether the retailers on this list muddle through or end up disappearing deep into cyberspace.

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