While the pace of growth slowed, spending stayed strong because of robust job growth and strong wage gains.
Category: Shopping and Retail
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Rite Aid’s A.I. Facial Recognition Wrongly Tagged People of Color as Shoplifters
Under the terms of a settlement with the Federal Trade Commission, the pharmacy chain will be barred from using the technology as a surveillance tool for five years.
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Americans May Be Taking on Too Much Pay Later ‘Phantom Debt’
Buying mattresses, clothes and other goods on installment plans has propped up spending, but economists worry that such loans could put some people at risk.
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What Social Trends Taught Us About the 2023 Economy
From girl dinners to ChatGPT, a look back at the trends that broke the internet and taught us about the American economy this year.
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Shoplifting at Filene’s Department Store
How I was banned from Filene’s department store.
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Prices for Some Goods Are Actually Falling This Holiday Season
As inflation slows, prices for some physical goods are falling outright, which could lift consumers’ spirits.
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Is Farfetch About to Go Bust?
For years, Farfetch was a tech darling that powered much of online luxury shopping. Now it is teetering on the brink of collapse.
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Shein Accused of ‘Mafia-Style’ Tactics by Rival Temu
The two ultrafast-fashion retailers, which both have roots in China, are fierce rivals, offering low-cost items to U.S. consumers.
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Corporate America Is Testing the Limits of Its Pricing Power
Firms may struggle to keep profits up if demand slows, but so far they are finding ways to keep margins wide.
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Investor Group Is Said to Offer $5.8 Billion for Macy’s
Department stores have been a frequent target of takeover attempts by investors looking to take advantage of prime real estate.
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Amazon Suit Claims International Ring Stole Millions in Fraudulent Refunds
The online retailer said that a shadowy organization bribed Amazon employees to help carry out fraudulent returns of expensive electronics, luxury goods and gold.
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The Holiday Boom in New York Is Back. Sort Of.
After three years of less foot traffic and less spending, things are looking up this year, even if it’s not 2019 again.