June 16, 2016

IT'S NOT POSSIBLE TO OVERSTATE DEFLATION:

Guess who's shopping at dollar stores? Well-to-do millennials (SRUTHI RAMAKRISHNAN AND SIDDHARTH CAVALE, 6/16/16, Reuters)


Victoria Marin, a 35-year old author and educator], whose gross annual family income is about $150,000, said she would initially feel awkward about shopping at dollar stores.

That perception, however, changed in the past few years for thousands of shoppers like her as a shaky economy added a good dose of prudence to household budgets.

"As years passed and my family grew, I realized I could buy the same items at a dollar store for a fraction of the price," said Marin, whose family of six lives in upstate New York.

Marin is among a growing band of affluent millennials who prefer spending less on everyday stuff and splurging on big-ticket items like cars and homes.

They do not need to shop at dollar stores, which sell products mostly priced between $1 and $10, but are increasingly choosing to do so, a move that is reshaping the fortunes of many retailers.

Posted by at June 16, 2016 2:29 PM

  

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