One of the hottest sectors in retail is the "off-price" or outlet segment. Established players like TJX, Ross and Nordstrom Rack continue to open stores at a solid clip while also expanding their e-commerce capabilities. Neiman Marcus, Saks and Macy's have identified their outlet store strategy as a growth platform. Scores of fashion designers and … Continue reading The outlet store long con
One of the biggest mistakes companies make strategically is failing to compete with themselves. The only reason Sears is no longer the leader in the retail home improvement industry--and now on a slow slide into oblivion--was their unwillingness to build or buy an off-the-mall response to Home Depot when they had the chance. Having personally … Continue reading Competing with yourself
A powerful component of customer engagement is providing scarce, exclusive and relevant experiences that reinforce your brand positioning. "Members Only" or "By Invitation Only" marketing programs can be compelling messages that tell your customer that you truly appreciate their business. For years leading luxury retailers such as Bergdorf Goodman and Barney's have feted their best … Continue reading Members only? Or “Members Only” jacket?
On April 19 I posted about my belief that the luxury off-price market was about to hit the wall, largely owing to a squeeze between a growing customer base seeking out great deals, and a diminishing supply of first quality branded merchandise. I suggested that the various players in the space were going to have … Continue reading The Private Flash Sales Sites Jump the Shark