Retailers have been looking for growth for the past several years, but frankly, they've been looking in all the wrong places. Department stores had given up on this customer to chase after the youth market, and while 40 may be the new 20, these women want to dress differently.
Consumers are looking to be able to feel good again. Many lost their valuable luxury products that have an emotional connection. You can't replace your grandmother's earrings but you can find something comparable.
Best Buy is the new Home Depot. In the '90s, I went to Home Depot once a week looking for home improvements. Now I go to Best Buy every week looking for the latest gadgets.