With the economy the way it is, I am interested in what industry projections are saying, and what big names in the industry are doing. I have been very interested to find out some great information...first, let me share this:
- For last season, the apparel industry was down between 10% - 20%
- The company I am affiliated with was up 4% last season...
- Big companies (like Ann Taylor, Talbot's, Lane Bryant, Myrvins) are closing stores.
- The company I am affiliated with added (roughly) 300 new (independent) reps this season
When there looks to be a big trend in store closings, it always alarms me. Here are some additional stats on that"
- Ann Taylor closing 117 stores http://www.marketwatch.com/news/story/ann-taylor-stores-close-117/story.aspx?guid=%7B6335A368-53D3-4522-84E8-8B3116C6A568%7D
- Talbot's closing 78 stores http://www.usatoday.com/money/industries/retail/2008-01-04-talbots_N.htm
- Lane Bryant closing 150 stores http://www.bizjournals.com/dayton/stories/2008/02/04/daily16.html?ana=from_rss
- Cache closing 28 stores http://retail.freedomblogging.com/2008/04/30/cache-closing-stores/
- Eddie Bauer closing 30 stores http://retail.freedomblogging.com/2008/05/15/eddie-bauer-to-close-more-outlet-stores/
- The Gap closing 85 stores http://retail.freedomblogging.com/2008/03/14/gap-inc-closing-85-stores/
- Footlocker closing 140 stores http://retail.freedomblogging.com/2008/03/11/foot-locker-to-close-140-stores/
...and the list goes on.
In my opinion, this means that with the economy the way it is, shoppers (i.e. YOU) are making wiser choices in what you buy. You are weighing the 'cost per wear' against new hot trends. You are looking for quality (if I am going to spend money on something, it better last). And, perhaps, shoppers are turning to other means to shop other than at the mall.
What is the best way to shop in today's bazillion dollar economy? WARDROBE BUILDING - also known as wardrobe capsuling. In a nutshell, it is a way of building your wardrobe to get the most out of the pieces you have. Kind of a mix and match way of thinking.
It's not as hard as it sounds. If you would like a little guidance - let me know! email@example.com