The phenomenon, which economists have dubbed the “Amazon Effect,” happens because rivals tend to follow Amazon’s lead to match each other on online pricing.
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Posted inBusiness, Nation / World
Stores kick off Black Friday but pandemic woes linger
Retailers are expected to usher in the unofficial start to the holiday shopping season Friday with bigger crowds than last year.
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Posted inBusiness, Nation / World
Defying inflation, Americans increased their spending in October
The October gain the government reported Tuesday was solid enough for most economists to anticipate holiday shopping jumping by a record amount this year.
Posted inBusiness, Local & State
Holiday shopping season starts early as labor, supply chain issues dog Maine retailers
Worries about a shortage of consumer goods could make much of November and December look like Black Friday every day.
Posted inBusiness, Local & State
Texas firm to acquire Prime auto dealerships from scandal-ridden owner
Group 1 Automotive Inc. has agreed to purchase Prime Automotive from GPB Capital Holdings, a New York investment firm that has become the target of investors’ lawsuits and criminal allegations.
Posted inBusiness, Nation / World
Americans spent less in July as COVID-19 cases surged
Spending fell at stores that sell clothing, furniture and sporting goods.
Posted inBusiness, Nation / World
May retail sales fell 1.3% as Americans spend less on goods
Retail sales fell in May, dragged down by a decline in auto sales and a shift by Americans to spend more on vacations and other services instead of goods.
Posted inBusiness, Local & State
Bull Moose rehires laid-off workers and issues apology
The Maine-based chain said it “did not act anywhere near how we want to be as a company.”
Posted inAdvertiser Democrat
No more bags!: July 1 marks the start of Maine’s ban on single-use bags, polystyrene
Enforcement of the law was delayed due to the pandemic.
Posted inBusiness, Local & State
Businesses celebrate unmasking, but some customers hesitate
Maine’s indoor mask mandate and other pandemic restrictions expired Monday, as the state aligned with recommendations from the U.S. Centers for Disease Control and Prevention.