Any professional observer of retail trends and every shopper in the U.S. would tell you that retailing, and retailers changed dramatically during the pandemic. But many of those changes were already in the works before the pandemic even started. One of the interesting things that happened during the pandemic is that Amazon announced the closure of almost all their test stores that were in the works. On the surface, one might think that online retailing charged ahead so rapidly during the pandemic that Amazon decided to withdraw from stores …
The Hybrid Work Environment: A New Path for Retailers
Today, retailers are facing complex challenges from supply chain, logistics, and product sourcing to shortages of labor and growing costs. In addition to the economic issues, consumers continue to place demands on retailers focused on their DEI and sustainability strategies. Among these new challenges for retail brands has been the expectation from employees to create a new hybrid workplace that provides a more balanced work/life experience, but still drives creativity and collaboration. The hybrid workplace has created new opportunities …
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Retail’s Growing Channel…Recommerce
Although companies have been talking about sustainability and the circular economy for years, and retailers have been trying to make the production process more sustainable, customers will be the driving force to make sustainability practices stick. The growing consumer demand for preowned products may the accelerator for the circular economy. Strong Revenue Growth Across Recommerce Channels Used-clothing store sales revenue was up 37 percent in 2021 compared to 2020, and 25 percent ahead of 2019. These numbers only account for retail …
LoveShackFancy’s Real World Brand Advocates
Much like the cottagecore trend that came onto the radar a few years ago, LoveShackFancy is selling more than just a frilly pink dress –– they’re selling a paradigm. They’re hawking a paradigm of a traditional idyllic femininity experience that’s reminiscent of the Victorian era ideal of the “angel of the house” role that women played in England in the 1900s. The clothing is straight from “A Midsummer Night’s Dream,” but with much more liberal use of hot pink and ruffles. LoveShackFancy falls into the entry-level luxury category. The …
lululemon: Power of Three x2
“The success of our Power of Three formula in delivering on our 2023 growth strategy supports our goal to double (x2) the business over the next five years,” said CEO Calvin McDonald to analysts recently, referring to lululemon achieving its 2023 revenue projections in 2021 (two years ahead of schedule and a 40 percent increase over 2020). Accordingly, he’s projecting lululemon will double its 2021 results by 2026, (from $6.25 billion to $12.5). They anticipate total net revenues will increase 15 percent, at an annual compound growth rate by …
Hit Show Euphoria Alters Next Gen Fashion Landscape
It doesn’t get any cooler than HBO’s hit show Euphoria. With high school age characters in no-holds-barred scenarios, the series follows the life of a teenage drug addict named Rue, played by Zendaya. The cast features a diverse array of LGBTQ+ characters of various ethnicities, body types, and gender orientation. But beyond that, Euphoria has singlehandedly urged an entire generation to take bigger fashion risks and abandon dated rules about what to wear for their body type. Unlike most teens on TV dramas, Euphoria high schoolers aren’t …
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What’s in Your Vending Machine?
The jury is still out on the long-term value of NFTs as a digital ownership model, but SXSW 2022 was steeped in NFT hype. The conference hosted 20+ sessions anchored in serious consideration of the topic, while in another room NFTs of digital art objects were available (to download) for a price. A quick NFT refresher: "A non-fungible token is a blockchain-housed identifier (or piece of individual code) that represents the terms of a smart contract granted upon the exchange of a singular digital object. This object could be a virtual property …
The New Asian Invasion: How Miniso and Daiso Are Reinventing the Dollar Store Concept
The urban legend in the retailing business is that the precious space surrounding checkout lanes and around cash registers represent the most productive sales-per-square-inch territory in a store. So, imagine if you took that concept of impulse-driven buying and made a whole store that way? Okay, that’s a great idea still waiting to be launched. But pay attention to Miniso and Daiso, two chains out of Asia that have entered the American market and have big expansion plans. What’s clear after visiting these stores is that each in its own way …
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