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Luxury, low-end retail flourishes nationwide as mid-tier languishes
As the middle class shrinks, so too does the bottom line of moderately priced retailers
From the special retail issue: If art imitates life, retail isn’t far behind. As tourists and the well-to-do fuel luxury sales around the country, gains in employment and lower gas prices are helping more cash-strapped consumers load up on goods at dollar stores, outlets and off-price discounters.
So when it comes to determining which segments in the universe of retailers are benefiting from discretionary consumer spending, Nick Egelanian, president of retail real estate consultant SiteWorks, said, “The luxury part is winning and the value part of the bottom is winning.” But “everyone in the middle is losing.” [more]