What department stores say about America’s changing income classes
The Christian Science Monitor - 08/10/2016
More is at work here than just the rise of online shopping, says Barry Bluestone, a political economist at Northeastern University. He studied the first movement away from department stores and into discount stores in the 1970s, and he says the cause now is the same: a declining middle class.
“Retail trade is going to ultimately reflect the underlying distribution of family incomes, so with stressed incomes, they’re going to look for the most inexpensive and most efficient way to do their shopping,” Dr. Bluestone says.