Reported 16 days ago
Retailers are strategically cutting down on the number of products they offer, with companies like Hormel and Dollar General eliminating unprofitable items to focus on higher-margin products. This shift, originally sparked by pandemic-induced supply chain issues and rising production costs, aims to simplify choices for consumers and bolster profit margins. However, this strategy may risk alienating loyal customers who preferred specific offerings, as cutting too many items could drive them to competitors.
Source: YAHOO