Overseas shopping apps such as Wish and SheIn offer unique products at rock-bottom prices. Both apps specialize in cheaply-manufactured versions of popular brand name products and their popularity has skyrocketed in the past two years. What short- and long-term impact on the American off-price retail market do you see coming from overseas shopping apps?
Heavily inundated with advertising from conception, Gen Z customers have a built-in ad blocker. In a 2016 study by Vision Critical, 60 percent of Gen Z reported finding advertising “of any kind” disruptive. How can retailers create a relationship with customers from Gen Z who largely resent traditional advertising?
Many off-price retail chains are reporting same-store sales declines for 2017, leading MarketWatch to question whether off-price retailers are beginning to “cannibalize themselves” as a result of declining customer interest in the segment. Has consumer interest in off-price shopping waned?
Neiman Marcus recently announced its intention to close more than 25 percent of its Last Call off-price outlets. The retailer has expressed hopes to reestablish itself as a leader in the full-price and luxury markets. Will Neiman Marcus’s shift back to its full-price business model affect other retailers who have focused more on off-price?
In RetailWire’s Retail Mash-Ups, we imagine what would happen if two radically different retailers were to collaborate to create a unique chain with both of their best qualities. For today’s discussion, imagine a store created by IKEA and Kohl’s. What kind of a customer experience could you envision from such a concept?
The Consumer Confidence Index (CCI) rose from 101.8 to 104.1 in September, however economists are skeptical as to whether this increase predicts actual market recuperation. Do you think a higher Consumer Confidence Index foreshadows improved holiday profits for retailers?
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