The news has been inundated with stories about brick and mortar stores closing at an astounding rate.

Sears. Payless. Toys "R" Us. Charlotte Russe. Kmart.

All of these stores and more have filed for bankruptcy and ultimately shut down for good within the past three years. But why?

We could debate that it's because of online shopping wiping out the retail market, but in reality, each store chain listed above suffered from a combination of issues: too much inventory, high prices for low-quality goods, targeting the wrong audience, or failing to keep up with modern trends and customer needs.

You might be wondering how their failure to succeed affects how other retailers are managing to keep up with modern trends and still be successful.

It all boils down to this: retailers that have managed to stay afloat not only have broken into the e-commerce market, but successful retailers have begun implementing AI-based technologies into their business strategies.