Winnie Park

According to GlobalData, the U.S. secondhand apparel market grew 11%, or seven times faster than the broader retail apparel market, to $43 billion last year. The report estimates that resale sales online and at traditional thrift stores could reach $73 billion by 2028. #resale #retail #apparel #retailsales

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Here are some interesting stories from the world of retail for Thursday, June 6: 🧘🏽‍♀️ lululemon beat Wall Street’s earnings and revenue estimates, but issued weak second-quarter guidance as it contends with a slowdown in the Americas, its largest market. 👕 Hanesbrands Inc. will sell Champion to Authentic Brands Group in a deal worth up to $1.5 billion with performance incentives. Authentic owns brands such as Reebok, Forever 21 and Quiksilver. 5️⃣ Five Below cut its outlook for the year, warning that its core low-income shoppers were facing an outsized impact from years of inflationary pressures. It posted an unexpected decline in same-store sales for the first quarter. 👙 Victoria’s Secret & Co. said it was encouraged by demand for its bras, sleepwear and other clothing in May, but the company said it was exercising restraint amid continued caution more broadly among the US consumer. 🏪 Foxtrot intends to reopen several locations in Chicago in the Gold Coast and Old Town neighborhoods. The news comes after Foxtrot and Dom's Kitchen & Market closed on April 23. 🌳 Dollar Tree Stores Tree said that it had started a formal review of strategic alternatives for Family Dollar, which it said could include among others, a potential sale, spin off or other disposition of the business. 💵 Walmart is now offering bonuses to its hourly employees in the US., the company announced Wednesday. The longer an associate has been with the company, the higher the associate's bonus potential, to a maximum of $1,000. 📚 In a blow to publishers and authors, Costco Wholesale plans to stop selling books regularly at stores around the United States, four publishing executives who had been informed of the warehouse retailer’s plans said Wednesday. 🚚 Albertsons and Uber have launched a new food rescue initiative that aims to address food insecurity and food waste in several major US cities. The program donates surplus food from the grocer’s stores to local nonprofits. 📸The TJX Companies, Inc., parent of TJ Maxx, Marshalls and HomeGoods, said it’s equipping some store employees with body cameras to thwart shoplifting and keep customers and employees safe. 🍔 McDonald's lost a European Union trademark dispute over the Big Mac name after a top European Union court sided Wednesday with Irish fast-food rival Supermac's in a long-running legal battle. ✂️ The Bank of Canada's decision on Wednesday to cut interest rates from 5% to 4.75% is expected to provide financial relief to Canadians and encourage consumer spending. 🧳 Shinola and Filson parent Bedrock Manufacturing Company has appointed Steve Katzman to the role of CEO and Kevin Wertz as chief marketing officer. 🇦🇺 ALDI Stores Australia is moving into the insurance sector, with the launch of a series of homes and contents, car, and landlord products. #retail #retailnews #economy #DailyRetailNews

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Retail is an ever-evolving industry that has seen its fair share of changes over the years. From traditional brick-and-mortar stores to the rise of e-commerce, product startups have had to adapt and keep up with changing consumer behavior. In recent years, technological advancements and shifting consumer preferences have caused significant disruptions in the retail landscape. Check out our latest blog post where we will discuss the latest trends in retail and how product startups can adapt to these changes. https://lnkd.in/gwqbiBd2 #retail #retailtrends #digitalmarketing #sustainability #ecommerce #customerservice #dataanalytics #omnichannel

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#HotTake: Retail stores aren’t a shortcut to success. Retail offers bigger POs, visibility, and cash flow Yet, it doesn’t ensure brand sustainability Case in point: JLo Beauty Despite celeb status and prime placement at Sephora, She faced challenges resulting in a US exit Retail alone doesn’t secure loyalty or repeat sales Placement isn’t guaranteed forever For lasting success, think beyond the retail PO Some markers of a sustainable brand include: Authenticity, community, differentiated formulas, and true fans Building a lasting brand legacy requires more than a retail presence – 👋🏾 Hi, I’m Monique, a former retail buyer turned beauty industry advisor who helps emerging brands ready to scale at big retail. If you are ready to scale and invest, book a discovery call, and let’s see if we can work together.

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Highlights from last week's NYC #RetailSafari -- focus was the intersection of #technology, #customers, and #operations, primarily in specialty apparel and fashion. Key themes: 1. Technology goes backstage – Brand new formats / concepts at H&M, Banana Republic, Zara, AMERICAN EAGLE OUTFITTERS INC., lululemon, and J.Crew and none come across as tech-forward w/ regard to customers. On the other hand, associates were all mobile enabled and doing most of their work leveraging phones / tablets. 2. Old tech; new tricks – Widespread use of #RFID and #QR codes (both generally on the price ticket), with a mix of internal and external use cases -- self-checkout, RFID-assisted full-service checkout, inventory counts, inventory finding, #BOPIS, etc. 3. Apps are an entry point – #Retailers without a clienteling / selling culture are using apps to drive customer capture. #Lulu uses app-based membership to enable exchanges on sale items; UNIQLO offers special discounts to app members. 4. Unified is still a unicorn – Despite a decade of focus on #omnichannel and unified commerce, many gaps exist. Very few #retail apps recognize when you’re in store, send a notification, and/or assist in the shopping experience. Many didn’t even have their newest stores listed as an option for #BOPIS (despite in-store signage).  5. Video is the new visual – ultra-large format (8-10ft x 12-16ft) video screens were a common feature of many new stores, and really helped to bring the brand lifestyle to life.  6. It’s hard to (re)teach people how to shop – Across all stores except Bonobos, Glossier, Inc., and Reformation, the shopping process is the same as it’s been for the past 50+ years. The ones that don't are focused on a niche customer with a unique product offering. IMO, the product is the driver and consumers "accept" the experience. 7. The "future" is not here yet, but you can start to see the shape of it – Demoing the Apple #VisionPro, we could think of multiple use cases (mostly internal / operational), and while it’s too early (and too expensive) to fully commit, it’s certainly worth considering a pilot as part of an #innovation lab. It's also worth noting there was no apparent use of #AI by customers or associates. Curious to hear comments, feedback from other markets. #ibmretail

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An article in The Business of Fashion on "Fashion's Golden Opportunity With Older Shoppers"... Is total and complete BS. There is an opportunity across ALL shoppers. Dividing them up by descriptors that have been used for decades is just not going to cut it anymore. While teaching fashion marketing at Fashion Institute of Technology last Fall, there were modules on generations and how they spend, how they consume information, etc. I had to add caveats to each statement in the textbook because you can't make these types of assumptions anymore. This is an old school way of marketing. We can't put customers into these buckets anymore as there are so many other data points to consider. The affluent customer shops at Walmart, Target and Costco Wholesale. The tech boom will go through another cycle and you will have more younger customers with disposable income. Resale luxury is bought by Gen Z to the boomer. Generalizing is a wasted effort and it's what gets retailers in trouble with excess inventory to irrelevant product assortments. The customer has evolved across generations and we need to stop generalizing to avoid marketers look at the data in just 1 way. #retail #retailnews #fashion #fashionmarketing #bof

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The brand houses of VF, PVH, Deckers, Pentland, Kontoor, Amer, Wolverine and Boardriders featured in these insights own, or manage, a who’s who of global fashion and sports brands. Several weeks back I posted about the major sports brands and how their most popular sources of talent are each other (see link in comments). The brand houses are quite different: they barely recruit from each other. They do recruit from the major sports brands: Nike, adidas and lululemon are predictably the most popular. Despite the challenging trading conditions all these businesses have increased their total number of employees over the last year except for Boardriders (-3%) and Wolverine who were pretty close to flat. The rate of attrition varies from Kontoor at just 8% (great in any market conditions) to 17% for PVH. With the number of lay-off activities over the last year it’s not possible to draw any conclusions from this statistic about the impact of culture and leadership on employee retention. There is one notable absence from this list - Authentic Brands. After looking at the data for AB we concluded that recent acquisitions skewed the available data. Linkedin currently only makes it possible to link some of AB’s brands to the parent company and misses others that should be included for any insights on them to be meaningful. The data used for this analysis does not include part time employees but does full time store level employees. These will impact the data differently depending on the different proportions of direct operated retail (VF and PVH have much larger retail estates than Boardriders for example). See the bottom of the post for some key points on how this data was put together. Total Employee Trend FY23: 📶 VF +3%  📶 PVH +2% 📶 Deckers +15%  📶 Kontoor +5%  📶 Pentland Brands +1%  📶 Amer Sports +10% 📶 Boardriders -3% 📶 Wolverine +0.4% Attrition insights FY23: 🏃🏻‍♂️‍➡️ VF 13%  🏃🏻‍♂️‍➡️ PVH 17% 🏃🏻‍♂️‍➡️Deckers 9% 🏃🏻‍♂️‍➡️Kontoor 8% 🏃🏻‍♂️‍➡️Pentland Brands 13%  🏃🏻‍♂️‍➡️Amer Sports 10.5% 🏃🏻‍♂️‍➡️Boardriders 14% 🏃🏻‍♂️‍➡️Wolverine 14.5% (proportion of employees who left in last 12 months) Head to Head insights 🥊 PVH v Abercrombie +10 (for every one employee goes from PVH to Abercrombie, 19 go from Abercrombie to PVH)  🥊 PVH v Hunkemöller + 8  🥊 Deckers v Nike +14 🥊 Kontoor v Hanes Brands +6 * Source: Linkedin Talent Insights Note: this only tracks movements recorded on Linkedin, and only people who use the correct company for the role (sometimes folk add employer ‘entities’ that don't exist or aren't associated) Note: this is Global data Note: we only included full-time employees so it was not skewed by part-time retail employees Note: Where there were related businesses we included them i.e PVH and Calvin Klein / Tommy Hilfiger 

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Join us on July 25, 2024, for the RetailStat Footwear Retailers Webinar. We'll analyze key footwear retailers, focusing on comps, EBITDA margin, and credit ratings. Learn about trends and how leading companies navigate today's market challenges and opportunities. Register now: https://shorturl.at/I7FHI #RetailStat #FootwearRetail #Webinar #Finance #RetailTrends

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Aloha Friday 🤙🏼 Here are some interesting stories from the world of retail for Friday, May 31: 👖 Gap shares rallied more than 20% in the extended session Thursday after the retailer reported first-quarter earnings and sales well above investors’ expectations, raised its guidance for the year and pared down its inventory. 🏬 Kohl's shares plunged as much as 25% on Thursday after the retailer reported a surprise first-quarter loss and lowered its forecast for the year. The department store chain saw a 5.3% drop in net sales. 🥫 Costco Wholesale reported fiscal third-quarter profit, revenue and same-store sales that all beat Wall Street forecasts, but shares of the membership-based warehouse retailer pulled back from a record high. 💄 Ulta Beauty earnings that showed the effects of a slowdown its CEO had previously warned about. Comparable sales increased 1.6% year over year, a stark slowdown from the same period a year earlier. 👗 Nordstrom shares fell 5.6% in extended trading Thursday after the company reported a wider-than-expected first-quarter loss of $39 million, although revenue topped analysts’ estimates. 📺 Best Buy has reported the 10th straight quarter of same-store sales declines, a reported 6.1% drop for February, March and April. Its total revenue of $8.85 billion was a little lower than Wall Street anticipated. 👟 Foot Locker’s turnaround is starting to bear some fruit.  The sneaker giant saw comparable sales decline 1.8% during its fiscal first quarter, far better than the 3.1% drop-off that analysts expected. 💵 Dollar General reported better-than-expected profit, sales and same-store sales for its first-quarter as more customers shopped its stores for groceries and other essentials. 🥡 Amazon customers in the US can now order takeaway deliveries from Grubhub without leaving the tech giant’s app. The deal is part of a deepening relationship between the tech giant and Grubhub. 🚫 Illinois set to end grocery tax. Legislators have approved a state budget for 2025 that eliminates the 1% tax, paving the way for Governor JB Pritzker to sign it into law. 👓 Innovative Eyewear has released an Eddie Bauer Smart Eyewear collection. The collection includes four styles and features voice access to ChatGPT. The glasses have built-in Bluetooth microphones and speakers for music and calls. 🥖 Subway, the restaurant chain with the most locations in the US, has sold $3.35 billion of asset-backed bonds to help fund its buyout by Roark Capital Group, in what is the largest securitization of its kind on record. 📦 The Federal Aviation Administration (FAA)is giving Prime Air additional permissions that allow it to operate drones for more deliveries in a wider area. 🇫🇷 Pharmacists in France have gone on strike for the first time in a decade, closing around 90% of pharmacies across the country. #retail #retailnews #economy #DailyRetailNews

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Here are some interesting stories from the world of retail for Thursday, May 23: 🎯 After a full year of sales declines, it's clear American consumers are making Target prove its value as they continue to stretch their dollars and shop around in the face of higher interest rates and prices. 👗 The TJX Companies, Inc. has raised profit forecasts, expecting earnings per share to be in the range of $4.03-$4.09, an increase from its prior forecast of $3.94-$4.02. The company is banking on easing costs and robust demand. 💄 E.L.F. BEAUTY posted its first $1 billion fiscal year, growing sales by 77%. The company blew past Wall Street’s estimates, but it anticipates its growth will moderate during the current fiscal year. 🏬 Walmart is growing its Neighborhood Market format with a newly opened store in Santa Rosa Beach, Florida, and another to open soon in Atlanta. The new stores include features that build on the retailer’s growing e-commerce. 📉 Prices are dropping for thousands of items at Target and Walmart, as US retailers’ results indicate fatigue among some consumers after three years of high inflation. 🤝 Pier 1, Stein Mart ownership changes hands. A group of investors that had backed Retail Ecommerce Ventures — owner of Pier 1 and other retail brands — now owns the portfolio. 🤖 Amazon will introduce a more conversational artificial intelligence-powered version of its Alexa voice assistant later this year and plans to charge a monthly subscription fee to offset technology costs. 🏥 Cencora has agreed to buy about $400 million in stock back from Walgreens Boots Alliance, the second time the pharmacy chain has reduced its stake in the company this year as it looks to free up cash to pare down debt. 🏭 Amazon's postpandemic pullback in logistics is over as the company turns competition for consumer spending into a battle over real estate. It's buying up industrial property and restructuring its distribution network. 🚴🏽‍♀️ High-tech exercise bike retailer Peloton Interactive has introduced a UK rental service for £99 a month, which includes equipment and access to all its live online classes and back catalogue. 🚣🏼‍♂️ Fresh off its recent acquisition by Burch Creative Capital in February, DTC apparel brand Rowing Blazers has appointed Laura Willensky as its chief executive officer. 👟 VF Corporation Corp, owner of brands such as The North Face, Vans and Timberland, has named Paul Vogel as its new chief financial officer. The former Spotify CFO succeeds Matt Puckett, with effect from July 8th. 💳 The Consumer Financial Protection Bureau will classify “buy now, pay later” apps the same way it treats credit cards, a move meant to afford consumers more protections, the agency announced Wednesday. 🚗 Cars, trucks and SUVs in the US keep getting older, hitting a record average age of 12.6 years in 2024 as people hang on to their vehicles largely because new ones cost so much. #retail #retailnews #economy #DailyRetailNews

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At Ethik Brands, we embrace the risk of being a lone leader in the denim industry and the discomfort that comes with it. I’ve been in this for more than 30 years. The fashion industry is not doing enough, and we are committed to creating more sustainable practices and making a positive social impact. By developing and shifting more brands into our factory and process, we aim to drive down carbon emissions and save water. We need to reach more people who care and deliver them better products. “The Global Fashion Summit, launched back in 2009 to put sustainability on the map, celebrated its 15th anniversary this week. But what has actually changed in the fashion industry since it first began? “Honestly, I am disappointed that we’re not further [along],” Eva Kruse, founder of the summit, told Vogue. “When we first started, we didn’t think it would go on for so long, I thought we would solve the problem and get on with another topic.” Why aren’t more factories, brands, retailers, and consumers making more progress? “…a stark report by the Apparel Impact Institute found that greenhouse gas emissions are set to rise by 40 per cent by 2030, despite the fact that the industry needs to slash emissions by half in order to be in line with the Paris Agreement’s ambition to keep global warming to 1.5 degrees Celsius.” Legislation is crucial to initiating this change, as well as six other points made by Emily Chen. One stands out to me in particular: #1 Bold leadership is lacking. The need for “bold and brave leadership” was emphasized multiple times during the summit, given the amount of work that still needs to be done. “Do you care?” Paul Polman, author of *Net Positive: How Courageous Companies Thrive by Giving More Than They Take*, questioned the audience, adding that if people weren’t “uncomfortable” then they weren’t doing enough. I invite you to learn more about us. Contact me directly here or reach out to our leadership team. Together, we can create positive change. Ninfa Fergadiotti Carter Case Caroline Rothwell Gerstein Leeann Rahman

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Founder, Chairman and CEO, Baozun Inc., Vincent Qiu recently shared in Hong Kong Economic Journal on GAP’s transformation in China since Baozun’s acquisition last year. The apparel brand’s transformation has reached the mid-way mark and is adjusting its style and product offerings to cater to Chinese consumers sense of #fashion and lifestyles. As a major fashion brand, Gap's extensive operations consist of various aspects - from #design, #supplychain, factory management to fabric innovation. These insights in brand management helps Baozun to ensure seamless integration from supply to demand. The team plans to expand GAP's presence by opening more stores this year in China. Read more about the Hong Kong Economic Journal coverage here: https://lnkd.in/gisWh6gg #Baozun #ApparelIndustry #ProductDesign #Phygital #eCommerce #BrandStrategy #Apparel #SocialCommerce #Retail #DigitalCommerce

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What is the purpose of a physical store in today's digital era? Brian Librach, former VP of Stores at Urban Outfitters, Pacific Sunwear and Old Navy, joins me on #RetailDisrupted to explore: 🔸 Findings from his new book: The Retail Leader’s Roadmap. Why retail leaders get stuck and how to rewrite your career outcome. 🔸 The evolution of bricks & mortar retail – what is the future of stores and how should we be measuring success? 🔸 Which brands does Brian admire and what are they getting right? 🔸 How can retailers ensure their staff are motivated and engaged? 🔸 Cultural shifts: digital transformation journeys and the importance of taking your people with you. 🔸 Upskilling and investing in digital competencies. 🔸 Squiggly careers: why the path to success isn’t always linear. 🔸 Natalie and Brian debate the key traits of winning retailers (25 min in). Full episode links: 🎧 Apple: https://lnkd.in/eCJQj-Mr 🎧 Spotify: https://lnkd.in/eyrWHYQV 🎧 YouTube (audio): https://lnkd.in/e73UqqTV #retail #retailleadership #consumer #retailinsights #bricksandmortar #storekpis #retailtech #squigglycareers #retailtechnology #digitaltransformation #retailpodcast

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Nearly three-quarters of U.S. consumers are embracing the omnichannel shopping journey https://lnkd.in/ewKkHy3G 73% of consumers blend online research, physical store visits and options such as buy-online-pickup-in-store or in-store returns before making purchase decisions #retail #TRI Chain Store Age

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TGIF! Which means today is The Robin Report's #RetailUnwrapped Podcast. Listen to #RetailConsultant Liza Amlani for insights about #SuccessionPlanning and how PepsiCo has done it so well for a long time. Listen, Read, Subscribe 👇

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Shoptreo’s mission has always been to facilitate meaningful connections that drive success throughout the B2B wholesale journey. From the beginning, our vision has been to empower local fashion manufacturers to thrive globally through advanced technology, seamless connectivity, and financial support. Our core values of innovation, collaboration, and customer-centricity have guided us through challenging times. Throughout our three years of existence, we have consistently integrated our mission and values. This quarter, we have experienced significant growth in both our customer base and market share. Our efforts to enhance the customer experience and streamline operations have resulted in a 15% increase in revenue compared to the previous quarter. Additionally, the successful launch of new product lines has been enthusiastically received, solidifying our position as an industry leader. I am particularly proud of our progress in fostering a culture of innovation and inclusivity within the organization. Looking ahead, we are committed to maintaining this momentum and driving further growth in the coming quarters. Our strategic priorities include expanding our global footprint, investing in cutting-edge technology, scaling our newly launched mobile app across all Shoptreo markets, and delivering unparalleled value to our customers. Empowering Africa's largest informal fashion market through innovative credit financing is our unwavering commitment. This is not just our mission; it's our promise and our passion. Together, we will transform dreams into reality and drive unparalleled growth and prosperity across the continent.

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BRILLIANT RESEARCH: Five 2024 Holiday Shopping Predictions https://lnkd.in/emwXStw7  Holiday shopping will look different for retailers this year.  After remaining largely resilient throughout four years of economic uncertainty, consumers are finally feeling the pinch.  Nearly a third of global shoppers (32%) reported using alternative credit services like buy now, pay later (BNPL) more frequently this year #retail Digital Commerce 360

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