Even in tough economic times, we still need to shop.
We just change the places we do it.
Which retailers are doing well during this economic
downturn? You don't think of a bad economy inside this Costco store.
Nak-He Evans is a warehouse manager at Costco. "We don't think that's affecting us at all. Our members keep coming and buying from us."
Sales at Costco have increased 12-percent in the first half of this fiscal
year. It's where penny-pinching shoppers look for bargains.
"We're getting value for our dollar spent."
"I don't have to go to the grocery store as much and it's a lot cheaper."
Wholesale clubs like Costco, Sams and BJ's are a few of the silver linings in this
Britt Beemer from America's Research Group says "They're the only place where consumers can go now to save money both on food and fuel and those are two things consumers are most concerned about because of
The handful of retail companies that are actually making money these days, like
Costco, are doing so against an economic backdrop that looks less than rosy.
The International Council of Shopping Centers predicts that more than
57-hundred retails will close nationwide this year, the highest number since
But it's not just deep discount stores doing well, some luxury retailers like
Tiffanys are still cashing in. Analysts say the key to success in these times... is having just the right
product to sell.
That's why you see stores like Anthropologie and its unique items, JCrew's high
fashion look at lower costs, drug stores pumping out prescriptions, even
Pet Smart reporting growing sales.
"I don't think this lab is going to want to eat less just because this economy
is slowing down." says one pet consumer. "How can you let it affect them? They rely on you for their stability and their food, they have to eat."
The last word from Beemer" "Every retailer should have three words stamped on their forehead. ' It's
merchandising stupid.' Because if you've got the right merchandising, consumers will find you. That's why there are always strong performers even in tough economic times."