Friday Round-Up: Retail Edition

Despite massive unemployment and no end in sight to the pandemic, Americans are shopping at pre-pandemic levels according to this CNN Business story. But it’s not all good news:

…retail sales could slow in the months ahead, economists warn. July’s 1.2% gain already was significantly slower than the 8.4% gain in June. The federal government’s stimulus package and enhanced unemployment benefits of an additional $600 a week have boosted retail sales, economists say. But the enhanced benefits expired at the end of July, which could cause the recovery [to] stall…

Increased consumer spending hasn’t helped all retailers: Rent the Runway will permanently close all physical stores and “shift its focus back to its online-only roots” per Business Insider.

While numerous retailers have declared or on the brink of declaring bankruptcy, CNBC reports some good news: Mall owner Simon Property Group is acquiring Lucky Brand out of bankruptcy for $140.1 million.

The fashion industry is replete with poor labor practices and the fact that your workout wear is often made in sweatshops may be ironic, but not surprising–but activewear brand Fox & Robin is working to fix this by disclosing their factory workers’ wages.

COVID-19 has greatly changed the way we shop and GOBankingRates lists all the ways shopping will change even after the pandemic ends.

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