Between 1995 and 2012, businesses in the Woodwards area underwent significant transformation, driven by urban redevelopment and changing consumer preferences. The area saw a shift from predominantly local shops to a mix of boutique stores, restaurants, and larger retail establishments, reflecting a trend towards gentrification. Additionally, the rise of online shopping prompted many traditional retailers to adapt their business models, often incorporating e-commerce strategies. These changes contributed to a revitalization of the area, attracting new residents and visitors.
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the total number of businesses in the United States in 1995 was somewhere between 16 million and 24 million, of which approximately 15,000 were large.
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