As consumer spending dwindles, with tens of millions of American jobs lost since March, retail chains continue to close doors and bankruptcy filings mount up. Yet retail and food sales rose a record 17.7% in May, according to the U.S. Census Bureau, and discount chains are flourishing. How do we account for this?
We spoke with Brett Rose, founder and CEO of United National Consumer Suppliers (UNCS), a company that buys manufacturer closeouts and overstock inventory in bulk, then resells it to major retailers and marketplaces. He shared his thought on this apparent disconnect, and where he sees things headed as re-openings progress.