The death of the American middle class has brought department stores down with it [View all]

[applegrove]

Mary Hanbury at Business Insider

http://www.businessinsider.com/american-middle-class-disappearing-department-stores-suffer-2018-6

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Experts say that the recent closing of Bon-Ton and ongoing struggles of department stores are linked to the death of the middle class in the United States.

As the middle class has shrunk, high-end and budget stores have become the most successful areas of the retail sector.

According to a Deloitte study, revenues have grown 81% and 37% at high-end and budget stores, respectively, in the last five years. Meanwhile, stores in the middle range have seen a 2% increase in sales.

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