It is very sad to see.
It is not only due to the competition with online stores like Amazon.
I think it has a lot to do with the fact that younger generations do not desire nice an expensive things. They are more practical.
You do not meed $1,000 dawn coat, you can get by with $100 UNIQLO dawn. It is also true to any industry including Internet services. You really need to be practical and inexpensive.