The unthinkable has happened. American consumers are losing their urge to shop. Maybe it is because they have been scared into prudence, maybe it is because they can no longer get the credit to which they have long been addicted, but they are spending less. Every single retailer is hurting from the drop in demand, but the weakest are in grave trouble. Some, already struggling in an intensely competitive retailing market, are in free-fall, possibly even heading for bankruptcy. For their stronger competitors, that makes the present such an unmissable opportunity.
Source: The Economist