Check out this quote from today’s report that retailers are struggling: “We don’t see any signs of significant improvement with the exception of a continued full-fledged flight to value retailers,” said Craig Johnson, president of Customer Growth Partners, a retail research firm.
The report goes on to note: “Wal-Mart Stores Inc (WMT.N), the world’s largest retailer, is expected to post a 3 percent gain in same-store sales, according to Thomson Reuters data.”
I guess no one is paying close attention to the words we use to describe those retailers who are still thriving in this economy. We call them “value retailers.”
In other words, consumers are demanding that they do not overpay for products and services. If the retail world was treated like the stock market, economists would be calling it “a correction in the market.” Is there something wrong with not wanting to be overcharged for like products? Is this the sign of a sick economy or a new one?