Bargain stores are getting the bulk of the business
June 25th 2008 21:21
Despite the economic down turn many bargain stores are thriving right now. This is because everyone is looking to save in any way possible. With less money to work with saving is the natural thing to do. People are being a lot more selective about their spending and buying more items that they need rather than items they want. The “extras” such as luxury items are not the main priority right now. As some of the big chain stores go out of business the smaller bargain stores are moving up. Many of the dollar stores are doing quite well, while sales are up again at Wal-Mart and Costco. In fact some retailers continue to do very well in a recession because they pick up lost business from the higher end stores. However many food chains are attempting to cut costs due to the loss of business. Smaller portions are now being offered at many restaurants for the same price. Restaurants are also charging for condiments and some sub shops are pushing their $5.00 foot longs to get more people in the door.
Sales have dropped dramatically at Starbucks compared to the last decade. Yet I highly doubt Starbucks will go belly up because there are still plenty of coffee lovers in need of their morning fix.
The main stores getting business right now are of course bargain stores, pawn shops, and many small businesses.
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