Although the upcoming holiday season is poised to show better sales than prior years, second-tier department and chain stores, as well as some specialty apparel players, are seen by analysts as facing an uphill battle as shoppers continue to shift dollars to other segments and spend more money online.
The outlook reiterates the need to have a buttoned-up omnichannel strategy that leverages consumer data and preferences — especially online — while also reprioritizing physical stores. Looming on the horizon is Amazon, which is projected by FTI Consulting to garner half of all U.S. online sales in the next decade, which would total $500 billion. And Wal-Mart Stores Inc. and Target Corp. have reemerged as fierce competitors to traditional department store retailing as each are bolstering their supply chains and online capabilities.
Exclusive: @tommyhilfiger has tapped 22-year-old actress @zendaya to be his newest collaborator and together they will launch a see-now-buy-now collection in February. Speaking to WWD about the project, the Spider-Man actress said: “Fashion is more than just wearing cool clothes. It’s a way to celebrate self-expression and individuality, which is extremely empowering. This is why I am proud to partner with Tommy Hilfiger.” Tap the link in bio for the full scoop. #TommyXZendaya #wwdfashion
Fashion is facing a blistering pace of technology, a complex economic backdrop, and shifting social mores, priorities, and lifestyles. WWD's annual CEO summit on Oct. 30 and 31, will be the meeting place for some of the sharpest minds in the business who will address how these forces affect a consumer. Speakers this year include Antoine Arnault, Virgil Abloh, Gabriela Hearst, and Olivier Rousteing. Tap the link in our bio to find out more. #wwdceosummit