Black Friday once was a single-day shopping extravaganza. Then came Cyber Monday, then Cyber Week… now, Black Friday events even pop up in the summer. What happened? Black Friday once had a simple definition: a one-day shopping blowout, when major retailers such as Macy’s and Target promised rock-bottom deals the day after US Thanksgiving. Today, […]
Category: Business
Big retailers are rethinking self checkout
The backlash against self-checkout is growing, and stores are starting to dial back on the technology after it exploded over the past few years. Booths, a British supermarket chain, said it’s removing self-checkout stations in all but two of its 28 stores. In the United States, Walmart, Costco, Wegmans and other chains have also revised […]
Realtor commissions to reduce 30% after verdict
Home buyers and sellers had a big week. Significant changes to how—and how much—they pay real-estate agents became more likely after a $1.8 billion verdict on Tuesday against the National Association of Realtors and large residential brokerages. The defendants artificially inflated commissions and “conspired to require home sellers to pay the broker representing the buyer […]
High cost of child care force many out of work
The cost of child care has risen so high in recent years that some parents can’t afford to work. As of September, the average household spent more than $700 a month on child care, up 32% from 2019, according to a recent report from the Bank of America Institute. The sharply higher costs are driving […]
Christmas creep is earlier than ever this year
Toss that pumpkin-flavored latte in the trash, because it’s time for twinkly lights and oversized reindeer. That is what some big box stores want people to believe. It is called the “Christmas creep,” and it has arrived. “I’m trying to shop for Halloween animatronics,” Jamie Hails of Avalon said. “Not shopping for Christmas trees.” Hails […]
2023 Halloween candy prices ‘Not Boo-tiful’
Spooked by the high price of Halloween candy? There’s not much relief in sight. For the second year in a row, U.S. shoppers are seeing double-digit inflation in the candy aisle. Candy and gum prices are up an average of 13% this month compared to last October, more than double the 6% increase in all […]
Auto loan delinquencies at 3 decade high
A growing number of Americans are falling behind on their car payments, an ominous sign for the U.S. economy as high auto prices and stubborn inflation strain household budgets. Car repossessions tumbled in the early days of the pandemic as the government sent trillions in stimulus money to American homes and businesses. But repossessions have […]
Bidenomics is going ‘belly-up’ fast
President Joe Biden’s dogged focus on “Bidenomics” is starting to cost him. For months, Biden has built up his economic platform as the central tenet of his reelection pitch, even in the face of worsening polling and as some national Democrats have urged the president to reframe his campaign message. The president’s team has argued […]
Health Insurance Premiums are through the roof
Workers and their employers are paying a lot more for job-based health insurance this year. The annual cost of family health insurance coverage at work soared to an average of nearly $24,000 this year, according to KFF’s Employer Health Benefits Survey, released Wednesday. That’s up 7% from last year. Employees are shelling out an average […]
Pharmacy chain Rite Aid files for bankruptcy
Major U.S. pharmacy chain Rite Aid said Sunday that it has filed for bankruptcy and obtained $3.45 billion in fresh financing as it carries out a restructuring plan while coping with falling sales and opioid-related lawsuits. In 2022, Rite Aid settled for up to $30 million to resolve lawsuits alleging pharmacies contributed to an oversupply […]
End of an era; say goodbye to CDs & DVDs
Customers are slowly running out of places to buy DVDs and Blu-rays as digital and streaming services become the preferred viewing option. With websites such as Netflix and Paramount+ becoming the predominant sources for movies and television, users are buying fewer physical copies of the films and television they love. This development is forcing some […]
Here comes another Postal rate hike; 5th in 2 yrs
The U.S. Postal Service wants to boost the cost of postage in January, which would mark the fifth rate increase since 2021 and come on the heels of a July postage hike. Some critics are decrying the plan, saying that the rapid price increases are “unprecedented” and causing customers to stop using the mail. The […]