What's happened
Thousands of brick-and-mortar retail and dining storefronts in the US are closing due to economic challenges, with nearly 3,200 store locations shutting down in 2024. Dollar General is among the retailers making changes, planning to close self-checkout at thousands of its stores.
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What the papers say
According to The Independent, Dollar Tree is closing over 600 Family Dollar locations due to inflation and shoplifting losses. CNN reports that Dollar General's CEO mentioned persistent inflation and reduced government benefits affecting lower-income consumers.
How we got here
Inflation and stagnant salaries have led to a shift in consumer spending habits, impacting retailers and restaurants. The closures highlight the struggle businesses face in adapting to changing economic conditions and consumer behaviors.
Common question
More on these topics
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Family Dollar is an American variety store chain. With over 8,000 locations in all states except Alaska, Hawaii, Oregon and Washington, it was the second largest retailer of its type in the United States until it was acquired by Dollar Tree in 2015 and it