Bobby Stephens’ Post

Inflationary pressures may be stabilizing, but consumers are still budgeting carefully to meet the rising costs of essentials. It’s no surprise consumers are turning to second-hand shopping. In 2022, the global second-hand apparel and footwear market reached $177B, and it’s expected to double by 2027. Despite the potential, most retailers struggle to truly move the needle with their implementations. Our experts outline the 3 essential steps to drive tangible success in the space: #Retailing #Retail #Inflation

Inflationary pressures may be stabilizing, but consumers are still budgeting carefully to meet the rising costs of essentials. It’s no surprise consumers are turning to second-hand shopping. In 2022, the global second-hand apparel and footwear market reached $177B, and it’s expected to double by 2027. Despite the potential, most retailers struggle to truly move the needle with their implementations. Our experts outline the 3 essential steps to drive tangible success in the space: #Retailing #Retail #Inflation

Inflationary pressures may be stabilizing, but consumers are still budgeting carefully to meet the rising costs of essentials. It’s no surprise consumers are turning to second-hand shopping. In 2022, the global second-hand apparel and footwear market reached $177B, and it’s expected to double by 2027. Despite the potential, most retailers struggle to truly move the needle with their implementations. Our experts outline the 3 essential steps to drive tangible success in the space: #Retailing #Retail #Inflation

Good insights Neil Saunders and an important conversation regarding the value of sustainability in the fashion industry. I agree that sustainability is not a singular purchase driver. Add to that the US consumer lags behind many European and Asian consumers on caring about sustainability. At some future point sustainability will be as natural as having a barcode on product - my opinion. Personally I’ve completed a transition from a retail giant to a small Danish sustainable B Corp RTW company. I have learned a lot! The product vision is that the customer “cares about sustainability but WILL NOT compromise on her look” period. She doesn’t want to pay extra for sustainability either. Unattractive product that saves the planet doesn’t win. Selling sustainability - an imperative - is truly a balance of science & art. Randy Scalise might say it’s retail 101 🤷🏻♂️

If you've noticed increasing rack and shelf space dedicated to resale, there's a reason. Those looking to stretch their budgets during tough times are increasingly leaning into the circular economy. Of the 37% who spent a higher proportion of their apparel budget on second-hand in 2022, 63% did so in response to inflation, and the number of brands with resale programs more than tripled from 2021 to 2022. How though for retailers to sell into the category and still make a profit? Read on.

Consider the following changes over a two year period:   1. Store numbers increase by 71.4% 2. Sales decrease by 25.9%   Now, you may well be scratching your head as to how this equation balances.   After all, the math just doesn’t seem to be mathing.   Here’s the answer: Stores^1.151602 + a broken proposition = -25.9   The subject of this calculation is Allbirds.   Looking at the current state of the business it is hard to reach any other conclusion than Allbirds has a broken proposition. Despite more visibility from stores, and marketing spend being largely around the same level as last year, demand for the product is simply dropping off a cliff. The truth is that Allbirds is simply not aligned with what the consumer wants and its focus on sustainability, while worthy, is all wrong. By and large, sustainability does not sell footwear. Despite consumers being generally concerned about sustainability issues, it is hardly ever the key determinant of footwear purchases; it is only ever an afterthought. Allbirds has pushed the sustainability message because it is a passion of its founder. That’s fine, but the passions of individuals are not selling strengths if they are misaligned with the market. Allbirds needs to find a point of view that resonates with customers and to focus on that to rebuild share. It should use the new vision to design and create assortments that have purpose and offer benefits that go way beyond sustainability. In doing all of this, Allbirds must differentiate itself from labels like On and Hoka which have been capturing consumer attention A further challenge is that of distribution. While Allbirds has a small handful of wholesale accounts, most notably REI, it arguably needs more. Its rivals are in front of customers through a whole variety of channels and outlets. Allbirds needs to have the same presence by partnering with retailers that can showcase its offer. This is especially important if physical stores are to be closed. All these changes will take time to enact. #allbirds #retail #retailnews #footwear

Tips for buying shoes online and ensuring a proper fit In an increasingly digital world, e-commerce has reshaped the way we shop, and the footwear industry is no exception. More and more consumers are turning to the convenience of online shoe shopping, an experience that allows them to peruse a vast array of styles,… Read more on the following link https://lnkd.in/dDSf83dR

Tips for buying shoes online and ensuring a proper fit In an increasingly digital world, e-commerce has reshaped the way we shop, and the footwear industry is no exception. More and more consumers are turning to the convenience of online shoe shopping, an experience that allows them to peruse a vast array of styles,… Read more on the following link https://lnkd.in/dviEi5j3

ICYMI: Footwear brand KEEN leveled up with Myagi by Rallyware's sales enablement tech to ramp up engagement and brand loyalty - big time. Dive into the highlights from their stellar customer story to see how the brand is scoring top marks in content quality: https://lnkd.in/gTM_n7yT #SalesPerformance #FrontlineEnablement