In 2024, rising costs pushed Americans to cheaper retailers, causing 48 retail and 22 restaurant bankruptcies.
In 2024, high housing and food prices in the U.S. led consumers to seek more value, trading down to retailers like Walmart and Aldi and opting for fast food or home cooking. This shift caused 48 retail bankruptcies and 22 restaurant chains filing for bankruptcy, with older dining chains like Red Lobster and TGI Fridays among those struggling. Walmart and Amazon saw growth, while Target and Starbucks faced challenges due to changing consumer habits and economic pressures.
2 months ago
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