Will Target's and Walmart's Success Spell Disaster for Other Retailers?

While Amazon (NASDAQ: AMZN) has zoomed to the forefront of the retail industry, some of its largest competitors, such as Target (NYSE: TGT) and Walmart (NYSE: WMT), have hit back hard and seen tremendous success. While their own income statements don't show any signs of a retail apocalypse, they may be contributing to the fall of the rest of retail. Is this the new trend?

There may a variety of reasons that spending by low-income consumers is rising. One is simply that income gaps are widening, with the rich getting richer and the poor getting poorer. Another is that consumer nondiscretionary expenses have increased, leaving the less well-to-do with less money to spend.

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Source Fool.com