Despite the evidence, few of us saw the face mask boom coming. Fabric face masks are this season’s most controversial accessory. They are the first accessory to bridge the gap between fashion item and medical necessity. But are they here to stay? Etsy sellers sold more than 12 million face masks during April alone, leading to $133 million in sales revenue. In Eastern countries such as Vietnam, Japan and China, face masks have been commonplace for years already. People wore them to protect others when they had minor illnesses such as colds or …
When Did the Gap Turn into Old Navy?
Gap is struggling. CNBC reported that Gap’s stock had fallen by more than 25% over the past year before the coronavirus outbreak. Gap’s former CEO, Art Peck, was fired in November of 2019 after a series of missteps led the brand away from the resurrection the retailer needed. Gap recently furloughed the majority of its employees without pay, but extending health benefits throughout shutdowns. So, what’s the problem with Gap? The standout issue is that its offerings have, for some time now, been undifferentiated from those of Old Navy, its …
Gen Z Has Been Prepping for Coronavirus All Their Lives
Funny thing about Generation Z/iGen consumers: they always shopped as if they were preparing for a cataclysmic global event. Gen Z grew up during the Great Recession and watched their parents and millennial siblings struggle to make ends meet with little to nothing put away in savings. Harsh inevitabilities about how global warming would play out during their lifetimes also made an impact on Gen Z's purchasing behavior, leading to the pursuit of sustainability over status (to the great dismay of many a legacy brand). Gen Z was often accused …
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Are You There, Retailers? It’s Me…A Millennial HENRY
Millennial HENRYs (High Earners Not Rich Yet) felt broke before the COVID outbreak. And even those that haven't been furloughed or lost their jobs during coronavirus shutdowns will be more cautious spenders on the other side. In 2016, NPD found that over a quarter (29 percent) of "affluent" millennials were still shopping at dollar stores. The headline shocked everyone except for the "affluent" millennials mentioned in the piece. Since then, there have been multiple studies dedicated to learning why millennial HENRYS-or millennials that make …
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Coronavirus: The Changing of the Guards, Still Not the Apocalypse
The retail industry is in such a tumultuous state that it has most of us remembering fondly when we could call a few department store closures the "retail apocalypse." Coronavirus hit the U.S. fast and hard, with many states and individual retailers closing up shop until further notice. California governor, Gavin Newsom, issued a statewide "stay at home" order and individuals can now face a fine or jail time for being caught outside on non-essential business. New York's governor, Andrew Cuomo, issued a similar stay at home mandate for …
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Is Amazon Finally on Its Way Out?
Amazon is the most controversial retailer of the modern era. It has become many consumers' guilty default for convenience purchases. In fact, 49 percent of internet searches start on Amazon and 8 out of 10 Prime members start their online product search with the megalith. But Amazon has a growing reputation problem that's threatening to undermine the empire Bezos has built. Logistical issues, waning brand sentiment and unsuccessful product quality control (read: selling counterfeits and unsafe products) might mean the beginning of the end for …
The New Mobile: What Gen Z Wants from In-App Retail
This year Gen Z will surpass millennials as the largest generation. The oldest members of Gen Z are in their early 20s and, as consumers, they're a force to be reckoned with. When we talk about retailing for Gen Z, mobile commerce needs to be at the forefront of the conversation. Gen Z has a 30 percent higher engagement rate than older generations in non-gaming apps. This isn't because Gen Z shop on mobile devices to the exclusion of other channels (you've all seen the stats on Gen Z's return to physical retail), but because young consumers use …
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Doing It Right: Mixed Use Retail Spaces for Millennials
It's time that retailers learn what real estate investors already know: Mixed use retail spaces are the mall of the future. Mixed use retail spaces refer to spaces with more than one function, such as: dining, grocery, fitness, leisure, pet care, coworking spaces, and/or medical facilities. And those real estate folks were definitely onto something when they named mixed use retail spaces the highest-rated investment niche of 2017. Mixed use retail spaces reflect the preference of the times and a staggering 44 percent of adults say their …
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