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It’s called bifurcation — the split in stores and brands catering a budget-conscious consumer on one end and luxury-focused one on the other.
Private labels, like Target’s Everspring or Costco’s Kirkland, have long appealed to budget-minded shoppers, but consumers are increasingly turning to them for perishable foods — a sign of trust.
The company says its 3% sales increase came in part through customers buying bigger packs of things at Costco and other club stores.
Some call shifts in the industry a retail apocalypse as more companies close locations or file for bankruptcy.
Books, newsletters and podcasts about the past, including “The Rest Is History,” are popular and profitable, explains journalist Will Dunn.
Use of customer service chatbots jumped, and retailers experimented with applications. For some, it can be tricky to sort through the options.
Deborah Holtschlag, owner of Plant Traps, says she “managed to take back control of the brand” after suing hundreds of sellers.
More than 40% of Americans have an unused gift card, according to Bankrate.
The growth of online shopping means returns may rise to $890 billion for 2024. Retailers, though, are trying to impose costs on the practice.
Fewer workers may be needed in stores as online shopping and automation make gains. Retail jobs have fallen as a result.