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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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Chinese discount store Miniso is growing by one new store a day

Inside Retail

. “We will continue to make efforts in overseas markets, not only to further develop new markets and existing markets, but also to further localise,” said Vincent Huang, VP of International Business at Miniso. The post Chinese discount store Miniso is growing by one new store a day appeared first on Inside Retail.

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Neiman Marcus, Saks Still Unable to Come to Terms on Takeover Deal

Retail TouchPoints

This offer had valued Neiman Marcus at $3 billion , but the luxury retailer objected to the deal’s structure because a significant portion of the payout would not have been in cash, people familiar with the matter told WSJ. Nieman Marcus has rejected Saks Fifth Avenue ’s latest takeover bid, according to the Wall Street Journal.

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Ross Stores Opens 29 New Locations Amid Off-Price Brick-and-Mortar Growth

Retail TouchPoints

Ross Stores is opening 29 new locations in 12 states over June and July as it continues to move toward its goal of opening approximately 100 new brick-and-mortar stores in FY 2022, which ends Jan. off-price apparel retailer plans to open 75 Ross Dress for Less and 25 dd’s DISCOUNTS stores. The Dublin, Calif.

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NRF: Electronics Will Drive Back-to-School Spending to Record $41.5 Billion

Retail TouchPoints

Opportunities still remain for retailers to capture the remaining spend, as 85% of families still have at least half of their shopping left to do. The most common reason for spending more than last year is needing new things, at 43% in 2023 compared to 32% in 2022. per person, up from $1,199.43 set in 2021.

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Ross Stores Plans to Add 100 Brick-and-Mortar Locations by January 2023

Retail TouchPoints

Ross Stores is already nearly one-third of the way toward its goal of opening approximately 100 new stores in fiscal 2022. In February and March 2022, the discount retailer opened 22 Ross Dress for Less locations and eight dd’s DISCOUNTS stores in 15 states and Guam.

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Silly Solly’s plans 10 more stores as it moves to franchise model

Inside Retail

“It was a massive challenge, but Silly Solly’s responded to consumer demand for new ranges of products to help ease cost of living pressure with a huge everyday focus on essentials items, at affordable prices.” The brand has announced its first Adelaide store will open before Christmas.

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