Bank of America CEO offers surprising take on consumer spending
Shoppers' habits appear to be changing in an intriguing way.
It has been a difficult time to be a retailer or run a restaurant in the United States, whether you're a chain or an independent. Consumers don't have it easy either.
Retailers have been undergoing a massive consolidation, with corporate brands snatching up competitors. And a number of restaurant chains have closed locations or filed for bankruptcy in the last year, citing rising costs and underperforming locations.
