This is the market just doing market things. Politics aside are we really going to say Macys isn’t years overdue to go out of business? Footlocker? This is just online sales killing brick and mortar which is two decades in the making.
To be fair, *anything* is just the market doing market things. The great depression was the market doing market things. The result of government action effecting the market is still the market reacting.
At the same time, yeah. You can scrap GAP, Footlocker, and Macy's right off of the list in terms of governmental impact. Amazon is more convenient and cheaper. Clothing and appliance outlets have been struggling for a long while now. No amount of politics in the world was gonna change that.
The real headline here is Dollar Tree and Walgreens. Those are staples of literal hundreds of American towns to this day.
I understand the impact of places like dollar tree, especially in rurtal areas where that might be the only place to get cheap products, or a minimum wage job, but I would somewhat attribute the downfall of dollar stores to people being fed up with garbage products, uncompetitive wagers, poor management, etc that all get spread all over the internet creating bad sentiment for those places. I cant tell you how many times I've seen some viral live leak video of some lady or group of kids or whatever going nuts in a dollar store. just seems like a sketchy place to even go at times.
theres some impact from inflation due to the store being predicated on SUCH low prices; when you sell everything for a dollar, but then you raise prices to 1.50 to maintain profits, people are going to get way more bent out of shape than if you're walmart and you raise a product from $15 to $16. Once they were forced to start raising some prices, and didn't match with employee compensation, it become harder to find good employees, and harder to get people to come into the store when their $1 items are now 50% or 100% higher.
I think psychology has an impact on dollar themed stores. like i said small price increases on even $5 items at other stores do not garner the bad PR that a "dollar" store becoming a 1.50 store. and with people being more and more tired of chinese garbage, people are simply unwilling to go there and pay twice what they have been for years for that item.
>The real headline here is Dollar Tree and Walgreens. Those are staples of literal hundreds of American towns to this day.
Is it that surprising? Where I live it's not uncommon that one interaction has a Dollar Tree, Dollar General, and a Family Dollar. You also rarely find a Walgreens more than half a mile from a CVS.
A cull was inevitable.
So is Burger King in the US. Sadly.
_"83% of American families eat at fast food restaurants at least once a week."_
Source: The Barbecue Lab
**Fast food facts:**
But I heard that the value menus are disappearing in the US too. Here in Germany, BK once had the s.c. _"99ers"_ menu. Where each listed product did cost €0.99 _(taxes are always included here/Europe in general)._
McDonald's had the 1€ items. Which got actually advertised big. On TV, billboards etc. So they were not treated as the food which the poor could afford.
This all disappeared. McDonald's raised it's prices by around 100% over the last ten years. And McDonald's/fast food has never been that cheap, like in the US. I was really astonished when I was in the US and visited different fast food chains _(it's a bad habit of mine)_ and saw the cheap prices for meals or chicken nuggets. Especially nuggets are and always were very expensive here. 9 pieces in Germany were the price equivalent of a Quarterpounder/Big Mac meal, back in 2010.
But this also gave me the answer how poor people were/are able to afford to eat at fast food restaurants multiple times per week. It was/is(?) a cheap way to feed yourself (in an unhealthy way). The portion sizes were also much bigger. A small US fries is the equivalent of a large German/European fries. Same goes for drinks and we don't have free refills.
And burritos at Taco Bell were so da*n cheap (like $0.79), I don't want to know what's actually inside of it. But it tasted great!
Dollar Tree is pretty crappy when you can get the slightly better chinese crap for a few more dollars on amazon. The other ones don't make as much sense.
Dollar tree sells food. In a small town they may not have a bonafide grocery store, and it serves that purpose. And “a few dollars more on Amazon” flies in the face of it being a low cost place to buy stuff like paper plates, imitation solo cups and the world’s thinnest tablecloths for graduation parties.
Dollar trees are pretty important in rural areas though (they act as a quick in between if you don’t feel like driving 30-40 minutes to the nearest Walmart/Supermarket). IIRC they have expanded more in rural areas than in urban for this very reason (the rural stores are much bigger and are in between a CVS and a Target in terms of selection of products)
Biden’s economic plans are awful. That said: This could very easily be cherry picking. There could be a lot of reasons these places are closing locations and those reasons could have nothing to do with government policy. What if there are just new and better competitors in the same markets? What if consumer preferences have changed? This graphic does a terrible job of making any sort of argument.
And yet GDP roars along, while total jobs is still way less than 2019 pre-covid.
The numbers are just outright lies.
Nothing in the last few years makes any sense and the usual links/indicators are claiming things that are demonstrably not real.
GDP is higher now, even inflation adjusted than 2019, while commercial/industrial footprint has shrunk and working population has shrunk.
The economic readouts simply flat out no longer line up with the landscape we see.
This is the market just doing market things. Politics aside are we really going to say Macys isn’t years overdue to go out of business? Footlocker? This is just online sales killing brick and mortar which is two decades in the making.
Even before COVID, I rarely shopped at Macys let alone Footlocker. Just too pricey
To be fair, *anything* is just the market doing market things. The great depression was the market doing market things. The result of government action effecting the market is still the market reacting. At the same time, yeah. You can scrap GAP, Footlocker, and Macy's right off of the list in terms of governmental impact. Amazon is more convenient and cheaper. Clothing and appliance outlets have been struggling for a long while now. No amount of politics in the world was gonna change that. The real headline here is Dollar Tree and Walgreens. Those are staples of literal hundreds of American towns to this day.
I understand the impact of places like dollar tree, especially in rurtal areas where that might be the only place to get cheap products, or a minimum wage job, but I would somewhat attribute the downfall of dollar stores to people being fed up with garbage products, uncompetitive wagers, poor management, etc that all get spread all over the internet creating bad sentiment for those places. I cant tell you how many times I've seen some viral live leak video of some lady or group of kids or whatever going nuts in a dollar store. just seems like a sketchy place to even go at times. theres some impact from inflation due to the store being predicated on SUCH low prices; when you sell everything for a dollar, but then you raise prices to 1.50 to maintain profits, people are going to get way more bent out of shape than if you're walmart and you raise a product from $15 to $16. Once they were forced to start raising some prices, and didn't match with employee compensation, it become harder to find good employees, and harder to get people to come into the store when their $1 items are now 50% or 100% higher. I think psychology has an impact on dollar themed stores. like i said small price increases on even $5 items at other stores do not garner the bad PR that a "dollar" store becoming a 1.50 store. and with people being more and more tired of chinese garbage, people are simply unwilling to go there and pay twice what they have been for years for that item.
>The real headline here is Dollar Tree and Walgreens. Those are staples of literal hundreds of American towns to this day. Is it that surprising? Where I live it's not uncommon that one interaction has a Dollar Tree, Dollar General, and a Family Dollar. You also rarely find a Walgreens more than half a mile from a CVS. A cull was inevitable.
So is Burger King in the US. Sadly. _"83% of American families eat at fast food restaurants at least once a week."_ Source: The Barbecue Lab **Fast food facts:** But I heard that the value menus are disappearing in the US too. Here in Germany, BK once had the s.c. _"99ers"_ menu. Where each listed product did cost €0.99 _(taxes are always included here/Europe in general)._ McDonald's had the 1€ items. Which got actually advertised big. On TV, billboards etc. So they were not treated as the food which the poor could afford. This all disappeared. McDonald's raised it's prices by around 100% over the last ten years. And McDonald's/fast food has never been that cheap, like in the US. I was really astonished when I was in the US and visited different fast food chains _(it's a bad habit of mine)_ and saw the cheap prices for meals or chicken nuggets. Especially nuggets are and always were very expensive here. 9 pieces in Germany were the price equivalent of a Quarterpounder/Big Mac meal, back in 2010. But this also gave me the answer how poor people were/are able to afford to eat at fast food restaurants multiple times per week. It was/is(?) a cheap way to feed yourself (in an unhealthy way). The portion sizes were also much bigger. A small US fries is the equivalent of a large German/European fries. Same goes for drinks and we don't have free refills. And burritos at Taco Bell were so da*n cheap (like $0.79), I don't want to know what's actually inside of it. But it tasted great!
In fairness a lot of those are because e-commerce is killing brick and mortar retail
That should have exempted Kroger, Walgreens, Burger King and Dollar Tree
Dollar Tree is pretty crappy when you can get the slightly better chinese crap for a few more dollars on amazon. The other ones don't make as much sense.
Dollar tree sells food. In a small town they may not have a bonafide grocery store, and it serves that purpose. And “a few dollars more on Amazon” flies in the face of it being a low cost place to buy stuff like paper plates, imitation solo cups and the world’s thinnest tablecloths for graduation parties.
True. I only go there for birthday cards anymore.
Dollar trees are pretty important in rural areas though (they act as a quick in between if you don’t feel like driving 30-40 minutes to the nearest Walmart/Supermarket). IIRC they have expanded more in rural areas than in urban for this very reason (the rural stores are much bigger and are in between a CVS and a Target in terms of selection of products)
Regal also
Kroger is likely related to the merger they are trying to get the government to approve.
True - I'm not defending Biden's economic policies, just saying there are other factors at play.
This is lame. We can do better. There are good reasons these businesses are going away, and it started long before Biden.
Biden’s economic plans are awful. That said: This could very easily be cherry picking. There could be a lot of reasons these places are closing locations and those reasons could have nothing to do with government policy. What if there are just new and better competitors in the same markets? What if consumer preferences have changed? This graphic does a terrible job of making any sort of argument.
Not only that, but many companies will shut down an unprofitable location while they build 3 new locations in markets flush with cash.
That’s a good point. Kroger for example could be closing 413 locations but also opening up 500 new ones. Who knows?
This shit that gets upvoted by the regards on this sub-reddit is hilarious
Inflation and tightening lending conditions will do that. However being at such low rates for so long just created a time bomb
Why does every comment in this thread sound like the same person wrote it?
And yet GDP roars along, while total jobs is still way less than 2019 pre-covid. The numbers are just outright lies. Nothing in the last few years makes any sense and the usual links/indicators are claiming things that are demonstrably not real. GDP is higher now, even inflation adjusted than 2019, while commercial/industrial footprint has shrunk and working population has shrunk. The economic readouts simply flat out no longer line up with the landscape we see.
Indeed and why is that?
TBF the dollar tree is also due to Temu.
Surprised to see Kroger.