As a new consumer brand, you probably relied on Facebook and Instagram for your initial phase of organic growth. You might even have celebrated when traffic to your website soared with your first advertising campaign. Those days are over. Mass advertising is a big boy’s game and it comes as Read more…
Retailers are now getting ready for the transition to spring and the clearance racks are full of last season’s goods. A surfeit of goods marked for clearance even after repeated price reductions during the season is a sign of mismatch between supply and consumer want. In the apparel industry, one Read more…
In his book “Crossing Fifth Avenue to Bergdorf Goodman”, the former CEO of the luxury specialty store wrote that there was always a “magic price” where the merchandise sold and the customer was happy and that a merchant’s job was to find that price. A week ago, when Bergdorf Goodman Read more…
A recent article in the Atlantic raised alarm bells on the demise of retail jobs, observing that “retail employment is following a familiar path, one already beaten by farmers and factory workers”. However, pronouncing the death of the traditional retail job is not necessarily the same as pronouncing the death Read more…
At Bergdorf Goodman, I noticed that the Marc Jacobs boutique had done something quite interesting. Right by the escalator on the 2nd floor, they had a sales representative who greeted shoppers and urged them to visit the boutique on the 3rd floor. I thought it was really thoughtful because people are often more responsive Read more…