I would say this still holds true but not for singular products. Take Costco for example, long term you save money and you get high quality products. But that comes at the cost of having to spend quite a bit up front to buy in bulk.
Not to mention it also assumes you have the space to store those products.
Funds to buy, space to store and also the means to transport the bulk goods. We do most of our grocery shopping on foot or by bicycle which rules out Costco for us.
Costco has a double threat going on... bulk discounts plus a great warranty. because they have so few skus, they can afford to give each product more attention than any other Brick & Mortar store, to say nothing about Amazon and Etsy