In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
Wayfair hurts Target because each of its orders represents one shopping trip a customer did not make to the mall or shopping center. I think Wayfair and Amazon’s growth, shows Americans are getting out of the shopping habit.
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Thus we can safely describe JC Penney as a zombie of the retail apocalypse. Conversely, JC Penney is a zombie that makes money.
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Disturbingly some of these developments indicate that we might soon face a drop off in economic activity rivaling that of the Great Depression.
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A side of effect of shrinking incomes is the dramatic increase in aggressive discounting. Discounters grow because they can offer lower prices. When they reach a certain size, discounters get enough leverage to force suppliers to lower costs, which makes even deeper discounts possible.
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