As retailers ramp up to Black Friday, the consulting firms and industry advisers are piling on with holiday retail forecasts. There are a dizzying array of forecasts to choose from. Take your pick, from good (4% from National Retail Federation) to better (4.5% by Deloitte) to best (6% by JLL Retail). Even more astounding is Deloitte’s prediction that shoppers will spend […]
Need a Retail Rescue? We’ve Got Your Lifeline
To be successful at retail, business owners must wear many hats. Their responsibilities span many disciplines, including management, business planning, marketing, social media, public relations, advertising, customer relations, operations, accounting, systems, technology, merchandising and product expertise. To be truly successful business owners must be competent in all or hire staff that can fill each of […]
American 26-Year-Olds Are Now Retailers’ Prime Target: What You Need to Know
The Wall Street Journal recently reported that 26-year-olds are the customers that retailers are most eager to attract. Why? Because they are the single biggest age cohort in the American population today, numbering 4.8 million. Those aged 26 are smack dab in the middle of the millennial generation, “the group of 93 million comprises people born roughly […]
Fashion Retailer Ascena Retail Group Is in Trouble
Ascena Retail Group Inc. recently released its 2017 annual report and the news wasn’t good. Sales were off 4.9% from 2016 and all of its four reporting segments showed a decline year-over-year with plus and kids fashion off the most, both down 7.5%. In response to its failing fortunes in retail, it plans to close […]
Coach Is Now Tapestry: Is a Name Change Enough to Change Its Fortunes?
Kraft became Mondelez, Google renamed itself Alphabet, Philip Morris was reborn as Altria and now Coach is Tapestry. Changing a company’s name is a really big deal, one fraught with peril of confusing customers by losing valuable brand awareness. Reporting in Fortune, Caroline Fairchild wrote: As corporations evolve their strategy, their brands can change too — for […]