About 45 percent of the 3,597 new store openings retail chains announced so far this year will be additions to the Dollar General, Dollar Tree, and Family Dollar chains, according to an analysis by Coresight Research.
Economic damage from the COVID War has hit low and middle-level wage workers hard, thus accelerating the long-term of the middle class declining and the growth of bargain stores.
“While the wealthy have done well and continue to do well since the Great Recession, there’s certainly a lot of the population that has not done as well,” Ken Fenyo, Coresight president, told CNN Business. “The dollar stores appeal strongly to that segment of the population.”
TRENDPOST: Yes, the dollar stores appeal to that segment of the population, which will continue to grow. We have been forecasting this trend for decades, and as the data proves, the billionaires got $8 trillion richer while most of the workers of the world got poorer.
Indeed, what further evidence is required to see the demise of America, once the Land of Opportunity, than the sharp rise of bargain-basement, cheap quality stores, compared to the demise of middle-class department stores that provided consumers with products and services of a higher quality.
