The death of retail is a very real thing. Amazon and other online retailers are simply shifting the way people shop in dramatic fashion. Yet you have to realize that Amazon does have a minimum buy for free shipping and not everything is rock bottom cheap. Also, food is still marked up on Amazon so if you are on a tight budget this will not work. So what are Americans to do? Many are opting to shop at rock bottom priced stores like Dollar General. Really cheap items and food. The basics. What is telling is that Dollar General, the king of dollar stores accounted for a stunning 80 percent of new store openings in the US. While other retail outlets are dropping like flies Dollar General is growing to fit a new niche: the millions of broke Americans that still need food and need cheap goods.
The dollar economy
Traditional retail is going through an extinction event. Online retailers are taking them to task. This model was predicated on people doing the same thing as they did in the past but they are not. Americans are too broke to buy a home so buying big ticket items are not going to happen in the way they did in the past. Also, Americans would rather eat out than buy groceries should they have disposable income.
The number of stores closing is rather stunning:
This post was published at MyBudget360 on May 29, 2017.
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