Part 1/7:
The Struggles of the 2024 Economy: A Look at Retail Closures
The economic landscape of 2024 has proven to be quite tumultuous, particularly for individuals and families earning $50,000 or less. Challenges abound with soaring credit card balances, record-high interest rates, and an alarming rise in 'buy now pay later' usage, all contributing to a heightened sense of financial stress for many consumers. In a recent discussion, Rick Bender highlighted these troubling trends and delved into the implications for both consumers and retailers, setting the stage for an even more challenging 2025.