Grammar, Usage / How to use the word 'fade away' in a sentence? [3]

word usage examples

I want to use the word fade away to say something is slowly disappear, become weaker or lose importance, but I and not sure whether I use the word 'fade away' correctly.

Examples:
As time passes, our memories are fading away.

It seems to me that when we want to if we want to describe something is abstract, the word of 'fade away' is appropriate, for example, memories, voice etc.

However, when it comes to something that is concrete such as shops, people, we can't say they are fading away.

I am curious whether my understandings are correct.

Thank you very much!