2024 JANUARY ISSUE
MARKET INTELLIGENCE
SHORT READ
| PART 2
Contents:
Nine Most Salable Items for the Holiday Season
Italian Luxury Sports Shoe – Golden Goose
Face Lifting for Fashion Retailers
Luxury Stores’ Dilemma At This Moment
The Story of Saks Fifth Avenue and Neiman Marcus
Luxury Brands in Japan
Nike’s Layoff at the End of 2023
South Korea’s E-Commerce Group Coupang Rescue to Fatfetch
Adidas Samba, the Shoes to Have At this Time
How to Treat Online Returns
Macy’s Latest News
The Trend of the Store Size in the U.S.
Shopping Behavior of Those Chinese Tourists
Written by Andrew Sia
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From the Desk of the Publisher
In this piece of article, we would like to highlight those fashion retailers are trying to turn their stores to become more spacious and to create an ambiance that can be more enticed to the customers. Finally they have started to learn the Apple store concept, which Apple had adopted more than twenty years ago. Perhaps it is time to train the sales staff in the stores to be more problem-solving. I have already the strong feeling that if they don’t improve the store layout and increase the activities that customers can do inside the store area, it would be hard for them to increase the foot traffic and try to keep them stay inside the store can assure more business.
The services like repair station, printing and even adding the embroidery-head for the initials or the cute emojis for instance, can enhance the fun of the products.
More and more of the retailers are using AI to help them to understand the behavior of their customers. There are a lot to learn here and they can certainly help the business.
We also read about the dilemma of the big department stores. Due to the competitions, merging of different stores can maximize the business opportunity. Once they are merged, training program for the retail staff will become very important. A well-documented staff handbook can assure them promotions for those who want to stay and grow in the business. We have heard also that many of them are still receiving minimum wage and this is definitely not going to be our future.
We also read about the value of the real estate of those department stores plays an important value to the total business. Take for instance, the flagship store of Macy’s on the Herald Square according to the analysts is worth 20% of Macy’s total value of $5.8 billion. To me, this can be worth anywhere not less than $1.5 billion because of the location.
There are so many things concerning the stores. Nowadays, they are still full of challenges, but if we can overcome them, what would follow are the opportunities.
