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Scarred by the 2008 Recession and COVID, 48% of Gen Z Frequently Shops at Discount Stores

Retail TouchPoints

That sense of unease is to be expected from a cohort shaped by both the 2008-2009 Great Recession and the COVID pandemic, and it’s had a big impact on their shopping choices: nearly half ( 48% ) say they shop the most often at discount/off-price retailers, and 25% frequently patronize dollar stores.

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As Gen Z Enters Prime Spending Years, Brands Sharpen Their Pitch

Retail TouchPoints

They’ve been shaped/scarred by not one but two global economic traumas — the Great Recession of 2008-2009 and the COVID pandemic — and they’ve grown up with social media playing an increasingly large (and loud) role in shaping culture, including how these consumers shop, research and purchase products and services.

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Dollar General CEO to Retire, COO Named as Successor

Retail TouchPoints

Vasos joined Dollar General in 2008 as the company’s EVP, Division President and CMO. He began his career with the company as a store manager trainee in Nashville, Tenn. Amid a year of expansion, Dollar General ’s CEO Todd Vasos has decided to retire from the role he has held since June 2015, effective Nov.

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Dollar General Brings Back Former CEO to ‘Restore Stability’

Retail TouchPoints

During Vasos’ initial seven -year stint as CEO, Dollar General expanded its brick-and-mortar footprint by approximately 7,000 stores, added nearly 60,000 net new jobs and increased annual sales revenue by more than 80%. The retailer has had a volatile year.

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Publix Promotes Murphy to CEO Post; Jones Named Executive Chairman

Retail TouchPoints

He was named SVP of Retail Operations in 2016 and President in 2019. He was named President in 2008, added the CEO title in 2016 and was named CEO in 2019. Goff also began in a Publix store, in 1991 in Jacksonville, Fla., working his way up to be named SVP of Retail Operations in 2022.

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Windsor Fashions to ‘Capitalize on Return to Normalcy’ with 150 New Locations by 2023

Retail TouchPoints

During the 2008 recession, Windsor began expanding its footprint, and the retailer plans to do the same now as the waning of the COVID-19 pandemic spurs a resurgence of social occasions. The company already has opened 10 new locations in the last 12 months.

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Report: Forever 21 Will Reestablish  Physical Presence in China With a New Store

Retail TouchPoints

Forever 21 then opened a store on Alibaba ’s Tmall and has begun advertising its offerings for the 618 mid-year shopping festival. Forever 21 first entered China in 2008 but left the country a year later.