Courage

Operations

Key Merchandising Strategies for Economic Uncertainty

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We keep hearing about the impending recession which would mean a pull back in consumer demand just in time for the holiday season. But recent industry reports are showing a “business as usual” behavior both with shoppers and with manufacturers. Amazon’s Prime Day topped $12 billion dollars and combined retail and food service sales grew +8.4 percent for the same month of June YOY. These reports are providing some breathing room for brands who are coming off of a two-year pandemic, broken supply chains and, as they say, unprecedented times. But …

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Inventory Apocalypse

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As the famed retail icon, Mickey Drexler once said, “Inventory is the enemy of every retailer in the world.” And in today’s totally unknown and incalculable aftermath of ongoing waves of Covid, an inventory apocalypse is ravaging the retail industry. Last Saturday, the New York Times ran an article, titled “Retail’s ‘Dark Side:’ As Inventory Piles Up, Liquidation Warehouses Are Busy.” Duh!! What an understatement. When the CEOs of Walmart and Target indicated they were caught “flat-footed” with the amount of excess inventory that had piled up, …

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CPG Faces a Crisis of Conscience

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By now we all know the adage, “If all you have is a hammer, everything looks a nail.” Our familiarity with the saying does not negate its relevance in a world riven by inflation, supply chain woes, employee demands and the looming specter of recession. Yet, it appears that those of us in the packaged goods industry have been consigned to the hammer brigade. Hammering the Message Just witness the edicts emanating from Cincinnati and beyond: “We must…” what? What do you imagine the CEO of the company which makes absolutely every product we …

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Why Microplastic Pollution is Still Fashion’s Concern

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Although numerous residents of New Jersey are still openly bemoaning the plastic bag ban that took effect in May, millions of people around the globe are participating in Plastic Free July, an initiative of the Plastic Free Foundation, an organization whose vision is “seeing a world free of plastic waste.” Included in that waste is microplastic ocean pollution, more than a third of which stems from apparel-made synthetic fibers. Critical Microplastic Mass At this point, the majority of all apparel is made from polyester and other …

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Sustaining Profitability and the Environment: A Retail Necessity

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Industry Reality Check To set the context for new emerging retail crises, allow me to set up the situation we find ourselves in as a result of the pandemic. From my perspective, Covid-19 did not start any new trends; instead, it accelerated one that had already begun, which is, that people were starting to do more and more of their shopping online than at brick-and-mortar establishments. Not only was there an acceleration in those who were already comfortable in buying online, but something even more interesting happened. People who were …

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Five Malls That Are Hitting It Out of the Park

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So far, malls have not had an easy year – but some shopping centers have managed to thrive despite the category’s wider challenges. We looked at retail foot traffic data from five high-performing malls throughout the country to understand what drives these outliers’ success. State of Indoor Malls in 2022 In the second half of 2021, mall foot traffic was making a comeback. According to the Placer.ai Mall Index (that tracks anonymized visitation data for 100 top-tier indoor malls throughout the country), visits to indoor malls in July …

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There’s a New Miracle on 34th Street

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It has been my habit to try to visit Macy’s in Herald Square whenever I am in the area: from the time I was a student at FIT, throughout my working career (including Bamberger’s), and now as an adjunct instructor at FIT. I always thought of Macy’s like the tale of two cities. When Macy’s believed in something, they did it better than anyone else. But at the same time, the store always seemed to miss the mark when it came to the basics -- managing a huge old building, maintaining it bright, neat, and clean, keeping a unionized staff positive and …

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Is the Time Right for a North American Supply Chain?

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Powerful forces are weighing on existing supply chains. We needn’t look far to notice the effects that shipping delays, rising costs, geopolitical headwinds, climate instability, and the need for secure access to goods have inflicted on our industry. Rather than moaning or gnashing our teeth, we should view these systemic disruptions as an opportunity to create change. While we excel at avoiding disruption and uncertainty, when backed against the wall, we innovate. Experts Converge In a session at the Milken Institute Global Summit 2022, …

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