Millennial brands are dying out in the era of e-commerce retailers. While once-successful Millennial-era brands like Billabong, Macy’s, Kohl’s, and even Forever 21 aren’t saying “supercheap” online retailers alone are driving their poor business or store closures, it’s no secret it’s having an impact. In general, American consumers are lovers of cheap buys and aren’t always truly concerned about the quality sacrifice that comes with it. Gen Z especially is all about budget shopping, and Chinese retailers like Temu and SHEIN are the cheapest possible options. Even as potential tariffs threaten to impact business for the ultra-low price Chinese retailers, a raise in their prices might still not be one other American stores can compete with. In fact, “Coresight has estimated that Shein and Temu may be a $100 billion threat to traditional retailers,” though big-box and e-commerce giants like Amazon and Walmart remain somewhat safe. (Business Insider)
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