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As an occasional buyer and seller of second-hand fashion, I’ve been watching the trend with interest. The shift towards thrifting (a more circular economy) seems like a win-win – good for consumers, brands, and the planet. But at the end of the day, whether you’re buying second-hand or brand-new, you’re still buying and consuming.
Resale platform ThredUP has debuted a new, light-hearted marketing ploy in its ongoing battle against “fastfashion addiction,” mere days after announcing it was joining the ranks of tech companies cutting staff amid an economic slowdown. A FastFashion Confessional to Help Gen Z. Strong Q2 Masks Impending Slowdown.
Consumers bought less clothing during the pandemic, that we know for sure, but we also saw that many people tried secondhand for the first time ,” said Karen Clark, VP of Marketing Communications at ThredUP in an interview with Retail TouchPoint s. Growing Sustainability Concerns Favor Resale Over FastFashion.
She led a brand refresh for the fastfashion retailer, focusing on younger consumers with a social-media-first approach to customer engagement. Co-founder Thomas Vellios will continue as Chairman of the Five Below board and work with the executive team to drive the retailers strategic priorities. million to $843.7 million.
In a warehouse on the outskirts of Barcelona, women stand at conveyor belts, manually sorting T-shirts, jeans and dresses from large bales of used clothing – a small step towards tackling Europe’s towering problem of discarded fashion. It did not respond to a request for comment on the suggestion it needed to do more.
The app’s initial rollout covers major cities like New Delhi and Mumbai, with plans for nationwide expansion. Underlying impacts The partnership between Reliance Retail and Shein represents a significant shift in India’s fashion landscape, with several key implications for both businesses and consumers.
Fastfashion retailer Forever 21 will add 14 new stores to its roster across the U.S. In addition to this Southern California store, the retailer has new shops planned for Illinois, Rhode Island, Nevada, Iowa, Pennsylvania, Virginia, Massachusetts, Georgia, Florida and Puerto Rico. through June 2023.
Between the tariff tug-of-war, flailing markets, insanely high egg prices and general twitchiness (as one strategist put it), consumers have gotten a bit hard to nail down lately. Here’s what some of the leading minds in retail say consumers need now. One thing is clear its not AI.
There was a time, not too long ago, when it took a lot of convincing to get consumers to consider secondhand. Now, both consumers and the retailers that serve them are quite willingly jumping on the resale bandwagon, driving an already hot sector toward even further growth. Retailers and Brands Take the Baton.
With the marketplace model now driving Debenhams’ growth, Boohoo hopes this fresh approach can turn around not just Debenhams, but its other brands, including the host of struggling fastfashion brands which once were the group’s driving force Boohoo, PrettyLittleThing, and Boohoo Man.
Recently, however, something new has begun to drive massive growth in the used goods sector — consumers who are shopping based on their values , in addition to searching for value. It is this facet of the modern economy that consumers have begun to reject. The Fastest-Growing Channel in Retail’. “ The Cool Factor.
This week, France announced legislation to “limit the excesses of ultra-fastfashion”. According to Roy Morgan data, the attitude of Australian consumers is shifting towards the circular economy with 34 per cent of Australians both buying and selling second-hand items. My shopping addiction is depending on it.
Ireland-based fastfashion retailer Primark is continuing its steady expansion in the U.S., with plans for three new stores in the New York region next year and a total of approximately 60 stores set to open within the next five years. This shift in consumer sentiment has been a primary driver behind the demise of U.S.
A new study from Accenture points to the paradoxical nature of shopper behavior and how that often sends false messages to brands and retailers making merchandising plans for the year ahead. Consumers, according to Accenture, prioritize convenience above all else, whereas retailers and brands place convenience at #4 on their list.
Focus and blame generally turn to the manufacturing, production and distribution parts of the chain, but other aspects are not usually at the forefront of the mind, especially when it comes to the consumer standpoint. In recent decades, fastfashion became incredibly popular due to its cost efficiency, both for manufacturers and consumers.
A new study demonstrates how AI can revolutionise fastfashion by improving supply chain efficiencies and in turn reducing the industry’s carbon footprint. The fastfashion industry is valued at US$2.5 Now, Inditex is planning to invest €2.7 billion into improving its online capabilities and technology upgrades. “We
ThredUP plans to tap into Sadler’s past experience at retailers such as Lulus — where she was also CMO — and MAC Cosmetics as it looks to sharpen its focus on “capturing the mindshare of younger consumers.” She will report to ThredUP President Anthony Marino, who previously oversaw marketing.
Here, we speak with #6, Babyboo co-owner and managing director Will Conditsis, about balancing rapid growth and profitability and repositioning the brand from ‘fast-fashion’ to ‘premium’ He also shares the top profession al skill he would still like to develop.
This contrasts with fellow China-based discount shopping apps such as Wish and Temu , which use a consumer-to-manufacturer marketplace model. thanks to on-trend discount offerings enabled by its real-time fastfashion model. Shein has enjoyed a meteoric rise in the U.S. 1 shopping app in America. Shein still holds the No.
To what extent can fastfashion brands make inroads in their sustainable practices and reduce their textile waste without fundamentally changing their business and operating model? This further fuel[s] their hyper-fastfashion model.” As a result, the garments are often not durable, and end up in landfill.
As prices continue rising, consumers rely on a combination of their wallets and consciences when deciding which fashion industry trends to buy into. All these efforts are being noticed by entities other than interested consumers and ambitious competitors. Take a forward-thinking approach. Green goals are a moving target.
This has significant implications for the retail and consumer packaged goods (CPG) industry across the product value chain. The pandemic has fundamentally reshaped the relationship consumers have with sustainability, from shopping and investing to employer preferences. Failure to act can significantly impact a company’s bottom line.
The results have highlighted the different strategies fashion retailers are deploying to stay ahead in a fragmented and challenging market. From agile inventory models to premium positioning, each retailer has its own distinctive plan to drive growth amid shifting consumer behaviours, economic pressures, and rising competition.
The retailer, known for its ultra-low prices and treasure hunt customer experience, plans to file a lawsuit on Nov. The lawsuit accuses these domains of using Temu’s trademarks without a license in order to “to create a false association with Temu and deceive consumers.” 16, 2023 in the U.S.
Boohoo Group boss Dan Finley has unveiled his turnaround plan for the fashion giant as he looks to shift the entire business to a marketplace model. The fastfashion brands saw a 21% drop in sales from 1.2bn to 94m year-on-year. Rebuilt for the future and transformed into Britains leading online department store.
While Urban Outfitters ’ assortment is designed for consumers in their teens and early 20s, Anthropologie provides a destination for consumers’ “next generation of life,” when they’re starting careers and families, according to Chief Marketing Officer Elizabeth Preis. As a company, we place a huge premium on creativity.
Fast-fashion retailer H& M announced plans to close approximately 250 stores next year as it seeks to step up the pace of its transformation via digital investments, store portfolio optimization and increasingly integrated channels. H&M has not yet identified which stores will be shuttered.
From acquiring an engagement ring to buying a wedding dress, few life events are as rife with retail opportunities as planning and hosting a wedding. In 2019, that number was US$28,000, reports The Knot, a global technology company that provides content, tools, products and services for couples planning weddings. It has it all.”
Resale Continued its Rise but Came Under Financial Scrutiny Consumers’ enthusiasm for secondhand goods, as well as other forms of more sustainable consumption like rental and repair services, showed no sign of slowing in 2023. But negative press didn’t stop either app from drawing U.S.
Fastfashion has normalised using garments for short periods of time, and throwing them away when trends change, driving an unsustainable pattern of overproduction and overconsumption. It envisions that fastfashion will be out of fashion, and that economically profitable re-use and repair services will be widely available.
A Tailored Retail Experience In the era of mass production and fastfashion, personalization has become a key element in attracting and retaining visitors. He is a leading industry expert in retail design who understands the consumer-driven experience and creates environments that break the boundaries of retail.
The brand plans to expand the Refurbished program to more US stores throughout 2021 and beyond. At the same time, consumers are becoming more and more conscious of the environmental impact of throwaway fashion consumption and the opportunity to extend an item’s life through buying secondhand.”.
Here, we chat with Airrobe’s new global head of partnerships and general manager Beth Glancey about how the business is making it easy for retailers to get involved in circular fashion and the biggest sustainability challenges for retailers in the industry right now. Inside Retail : Can you tell me about what Airrobe offers consumers?
Fast-growing Australian online retailer Canningvale plans to relaunch the iconic Singaporean department store Robinsons as an online-only business this month after acquiring the company’s digital assets for an undisclosed sum. Eventually, Prainito plans to roll out exclusive ranges and collections with key brands and suppliers. .
And we’ve seen the rise and rise of consumer expectations. Incredibly, the second-hand clothing sector is expected to grow faster than fastfashion in 2022 and the resale market is expected to grow 11 times faster than the broader clothing sector by 2025. We know the rewards are great if we act.
Inflationary pressure on consumer discretionary spending, supply chain disruptions and elevated inventory levels, which tie up a retailers’ net working capital, are set to create the perfect storm for retailers that do not have a strategy in place to ensure they are well positioned for the choppy market conditions ahead.
Fast-fashion chain Primark has no plans to enable online ordering with delivery. It may, however add a buy online and pickup in-store service in response to changes in consumer shopping behavior. The chain plans to launch a new website in the UK and 13 other markets by the end of the month.
He also discusses his plans for the SA1NT Layers brand, and what growth will look like moving forward. Inside Retail : Tell me about the inspiration and vision behind SA1NT Layers, as well as your plans and goals for the new brand? Can you discuss the brand’s approach to consumer education?
In todays fast-moving retail landscape, outdated assortment planning methods lead to lost revenue, frustrated customers, and inefficient operations. Retailers using AI-based assortment planning have seen a 36% SKU reduction while increasing sales by 1-2% ( McKinsey ). Why Is Assortment Planning in Retail So Challenging?
Consumers hold firm expectations that environmental sustainability and social responsibility should be at the forefront of everything from executive strategy, to day-to-day operations. This is set to become even more important as Gen Z becomes the dominant consumer audience. Here’s a snapshot of this discussion.
It’s about setting that standard, and then going above and beyond to be able to offer consumers new things.” A new type of fastfashion Speed of service and convenience have been battlegrounds that businesses across the retail industry have long fought, and is a large part of what customers expect.
Williams shared plans to expand its Adelaide workshop following the launch of its ‘Crafted in Australia’ collection. Externally, brands are feeling pressure from consumers and regulation. First, consumer desire for traceable and ethical supply chains continue to grow. per cent of fashion shoppers look for Australian made.
Uniqueness is one of the most coveted elements of fashion for many style-conscious shoppers, and in a world drowning in new brands, buying vintage or resale is the best option to find something truly special. “To Meanwhile, in just the past week, Etsy has announced plans to acquire resale marketplace Depop for $US 1.62
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