Everyone knew the web would affect retail, but a "retail meltdown"

[Freethinker65]

10. I also wonder if a certain segment of the population is just deciding to buy less crap?

During the recession a lot of people, even those that still had disposable income, found out they just needed less stuff. Decluttering/Tidying Up and Minimalism have become common. Buying experiences (travel, socializing with friend, recreational activities, etc.) instead of material things is a new trend.
Online purchasing has hurt the standing retailers, but it also curtails the impulse purchases and overbuying of items. If one visits, say, Amazon.com for a wireless speaker, they typically end up with just a speaker (or a speaker and a couple tangential items). If one went to an electronics store, one might end up with a speaker, an optional case, a new phone accessory, printer cartridges (seen on sale, so why not?), look at that cool new Dyson product, etc.
Perhaps the age of the American as a mega consumer is reaching its end....and continuing to destroy the middle class will not help.