It has happened to every kind of mom and pop business. As a young woman, I worked at a Marriott hotel near the "trade center". They had seasonal "markets" where small businesses came and chose their wares for the upcoming season. The whole area was a madhouse during market. The big markets are no more. They tore down the huge market center a few years back. The nice, huge, full service Marriott is now a Marriott Courtyard. Several of the market center buildings have been re-purposed.
With the changes in lifestyle (almost all women work outside the home now), the change in demographics (about 20% of our residents are immigrants) and the change in economics (the middle class is struggling), I can't see mom and pop retail improving. Add in all the taxes, insurance, regulation, paperwork and the need to have an online presence and you've got a tough nut to crack whether you're a quilt shop or an air conditioning company.
bkay