The coronavirus pandemic has devastated the retail industry, but discount chains like Dollar General and Aldi are likely to benefit now as consumers cut back on discretionary spending but continue to buy food and household essentials, retail analysts say
New York The coronavirus pandemic has devastated the retail industry, with April sales plunging 16% and big names like Neiman Marcus and J.Crew filing for bankruptcy.
Yet discount chains like Dollar General and Aldi stand to thrive. These budget retailers are building on strong growth in recent years. They are likely to benefit now as consumers cut back on discretionary spending but continue to buy food and household essentials, retail analysts say. Sales at discount stores are already proving to be a bright spot.
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