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Follow het Leaders Catherine I. Moellering Tobe, the international fashion and retail authority, in an exclusive feature for
Specialty Insider, presents four case studies on Bloomies, Burberry and others that you can use in your store right now
Just like the first fragile signs of spring, consumers are signaling they are ready to emerge from a deep freeze as well. This past holiday season was the strongest since 2004 and consumer confidence hit a three-year high in February. Economists predict that
consumers will spend a greater percentage of their tax refund on discretionary purchases as jobless rates continue to drop.
As consumers open their wallets to spend (albeit cautiously), retailers will find themselves in a new position. For the first time in years, they can move from a position of defense to one of offense. The mindshare that was devoted to day-to-day survival can now be allocated to near and long term growth strategies.
While this shift is certainly a welcome one, it can be overwhelming to consider the myriad of options that retailers have to consider. Technology? Supply chain management? More fashion product? Mobile commerce? Social Networking? Loyalty Programs?
After years of operating on stripped down budgets, we are all keenly aware of the value of capital investments. Perhaps the best way to evaluate and choose new areas in which to invest is to study industry leaders.
With this in mind, I have identified four of the best-in-class strategies being employed by some of the most innovative and established retailers in the industry right now, all of which are applicable to the best specialty retailers.
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