Matt Duhon’s Post

“You’ve got to remove yourself from the addiction to short-term solutions to sales and build long-term momentum.” - Jack Shewmaker, Walmart's first VP of Security Revenue leaders often use fleeting plans like discounts, promotions, and trends to increase sales. While these tricks can create spikes in revenue, they need to do more to build long-term customer loyalty or lasting growth. Known for “Everyday Low Prices,” Walmart's constant focus on affordability helps it stand out in a crowded market. Today, their legacy apparel brand is back on shelves, fighting market trends with a vengeance. While other stores compete with fancy designs, No Boundaries at Walmart drives affordability–and their strategic narrative. 

'🎯 Walmart targets Gen Z with apparel brand relaunch 🔄 The overhaul of its “No Boundaries” private label is the retailer’s latest attempt to gain traction in fashion, this time with casual style and low prices. 👕💰#GenZ #WalmartFashion #NoBoundaries #RetailNews 🛍️👗👖' by Retail Dive about Walmart

Will SPARC and SHEIN’s Partnership Create a Fashion Juggernaut? SPARC Group and SHEIN have entered a partnership that aims to expand Forever 21’s presence online while giving SHEIN a testing ground for brick-and-mortar sales through store-in-store locations at Forever 21 shops. The agreement also included SHEIN taking a one-third interest in SPARC and SPARC becoming a minority shareholder in SHEIN. Both retailers are aiming to synergize their respective brands to take advantage of each company’s strengths. Longer-term plans for the partnership include accelerating product innovation, exploring new business strategies, enhancing the customer experience, and growing both SHEIN’s and Forever 21’s presence on the market. Jeff Sward “This is one of the smartest, potentially game-changing, moves that I have seen in retail in a very long time.” Brandon Rael “Just like that, SHEIN entered the physical retail arena in the U.S. market. I predict this new SHEIN and Forever 21 acquisition and collaboration will be far from the last.” Lisa Goller, MBA “These partners combine their respective omnichannel strengths to drive global growth.“ Do you expect SHEIN and Forever 21 to be a good fit for each other? https://lnkd.in/evFddCa6

Shein, a popular fast-fashion online retailer, has reportedly acquired a stake in the parent company of Forever 21, a well-known fashion retailer. This strategic move is aimed at forming a collaborative alliance in the fast-fashion industry. The investment from Shein is expected to bring new opportunities and growth prospects for both companies. The alliance could potentially lead to a transformation in the fast-fashion landscape, with the companies joining forces to leverage their strengths in design, manufacturing, and online retail. Shein's strong online presence and digital marketing expertise, coupled with Forever 21's established brand recognition and retail network, could create a synergistic partnership. This partnership might result in a rebranding or a new heading for the collaboration, signifying the evolution of their joint efforts in the fashion market. The details of how the companies plan to integrate their operations and strategies remain to be seen, but the move underscores their determination to adapt and innovate in the ever-changing fashion industry. The fast-fashion sector is characterized by rapid trends and consumer demands, and this alliance could allow Shein and Forever 21 to respond effectively to these dynamics while also capitalizing on each other's strengths. As the fashion retail landscape continues to evolve, this collaboration has the potential to shape the industry's direction and offerings. #shein #fashion #sheingals #sheinofficial #ootd #fashionblogger #style #love #model #sheinhaul #photography #instagood #instagram #summer #fashionstyle #sheinstyle #explorepage #makeup #outfit #photooftheday #fashionista #zara #beauty #blogger #outfitoftheday #fashionnova #sheincurve #explore #moda #like

Did you have a partnership between SHEIN and Forever 21 on your bingo card for 2023? Probably not, but the deal – which has seen Shein take a one-third stake in SPARC Group LLC, the owner of the Forever 21 brand – makes sense for both parties. Although it’s on a firmer financial footing under its new owners, Forever 21 continues to struggle in the fast fashion sector. A more constrained consumer, tougher competition, and a somewhat also-ran brand position in the market are all putting pressure on the business. Now it will be able to sell its products on the Shein platform – exposing it to many more customers and driving up volumes. It’s a clear win. Shein has something to gain too: physical stores. It now has a partner with shops where it can, if it wishes, showcase its own brand via either pop-ups (which it has already tried in a number of forms) or permanent installations. Most Forever 21 stores are large (often too large) so there is more than enough space to facilitate this. The addition of Forever 21 also contributes to Shein’s goal of rounding out its proposition so that it is less reliant on ultra-cheap apparel. While Forever 21 isn’t premium, it is a credible brand that adds more fashion heft to Shein’s offer. Shein may also hope that the addition of a well-known American name will help to lessen focus on its manufacturing practices, which have come under scrutiny. Although both companies stand to benefit, Shein has an advantage as it is operating from a position of strength and is already taking share away from Forever 21, and others. Comparatively, this is something of an admission by Forever 21 that it is not able to engineer growth in its own business in the way that it might like. There is an element of “if you can’t beat them, join them” in Forever 21’s thinking. Given the rapid rise of Shein, you can’t really blame them.

Fashion and apparel retail is tough at the moment (it has been for a while). The economy is on the ropes. The supply chain is brittle and breaks regularly, local and global competition has never been more intense, customers expectations have never been higher, and complexity of multi channels has ramped exponentially. It’s tough. But in amongst all the prevailing sentiment are examples of retailer teams proving that anything is possible and that as much as things change the more the fundamentals of great retailing stay the same. Abercrombie, in its 2000’s hey day, might have been polarising but you couldn’t ignore it. Eventually the shine faded and they were out of step with a new generation which prised inclusivity vs exclusion. Sales nose dived and many wrote the brand off for done. Fast forward to 2020’s and the brand is back. The thing I love about this story is it’s another example how a deep understanding of your customer and a commitment to them results in over performance which flies in the face of the current climate. Proof that when you know your customer, the sizing that flatters them, the mix of basics and fashionable silhouettes, the range of prices and all with quality that surprises you win their trust. In time they become fans. A key piece of the success is speed, quick response to best selling styles and keeping the freshness and variety coming. The numbers speak for themselves: 66% GP, revenue growth in the teens. Their CFO, Scott Lipesky, summed it up perfectly in this this FT article, “We’re selling dresses at prices we haven’t seen in the past but it’s because we’ve earned the right to sell those to our customers”. Abercrombie & Fitch Co. #fashionretailing

Will Forever 21 and SHEIN ’s Partnership Create a Fashion Juggernaut? SPARC Group and SHEIN have entered a partnership that aims to expand Forever 21’s presence online while giving SHEIN a testing ground for brick-and-mortar sales through store-in-store locations at Forever 21 shops. The agreement also included SHEIN taking a one-third interest in SPARC and SPARC becoming a minority shareholder in SHEIN. Both retailers are aiming to synergize their respective brands to take advantage of each company’s strengths. Longer-term plans for the partnership include accelerating product innovation, exploring new business strategies, enhancing the customer experience, and growing both SHEIN’s and Forever 21’s presence on the market. Jeff Sward “This is one of the smartest, potentially game-changing, moves that I have seen in retail in a very long time.” Brandon Rael “Just like that, SHEIN entered the physical retail arena in the U.S. market. I predict this new SHEIN and Forever 21 acquisition and collaboration will be far from the last.” Lisa Goller, MBA “These partners combine their respective omnichannel strengths to drive global growth.“ Do you expect SHEIN and Forever 21 to be a good fit for each other? #Brand #Retail #Strategy #Fashion #Shein #forever21 #collaborations

Ross Dress for Less! Ross Stores, Inc. operates under the brand “Ross Dress for Less” and is known for its off-price retail model, offering discounted prices on a wide range of brand-name products, including apparel, footwear, home goods, and more. Ross’s business strategy revolves around providing value-conscious consumers with an exciting treasure hunt shopping experience while maintaining a focus on cost efficiency. One key element of Ross’s strategy is its sourcing model. The company strategically sources its merchandise by purchasing excess inventory or closeout items from manufacturers, department stores, and other retailers. This approach allows Ross to acquire quality products at lower costs, enabling them to pass on significant savings to their customers. The constant influx of ever-changing merchandise also contributes to the treasure hunt experience, as customers often find unique items at compelling prices. The “off-price” model is central to Ross’s value proposition. By offering popular brands at discounted prices, Ross attracts a broad customer base seeking affordable yet fashionable items. This strategy aligns with the growing consumer demand for value in the retail sector. Ross focuses on creating a sense of urgency and excitement among shoppers, who recognize the potential to discover high-quality products at prices significantly below traditional retail. Operational efficiency is another pillar of Ross’s strategy. The company maintains a lean supply chain and distribution network, enabling them to quickly adapt to changing consumer preferences and capitalize on market opportunities. The emphasis on cost control allows Ross to sustain its off-price model and maintain competitive pricing. Ross also prioritizes a no-frills store environment. While competitors may invest heavily in elaborate store layouts and decorations, Ross opts for a straightforward approach. This helps in keeping operating costs lower and reinforces the idea that the savings generated from these efficiencies are passed directly to the customer. In summary, Ross’s business strategy centers on the off-price retail model, emphasizing strategic sourcing, operational efficiency, and a straightforward shopping experience. By continuously offering compelling value to customers, Ross Dress for Less has positioned itself as a popular destination for bargain-savvy shoppers, navigating the retail landscape with a unique and successful approach. #RossFinds #FashionForLess #BargainHunt #OffPriceFashion #StyleOnABudget #DiscountFashion #RossDeals #AffordableStyle #TreasureHuntFashion #SavingsStyle #ClearanceFashion #ShopSmart #FashionFrenzy #BudgetChic #StealsAndDeals #RossClearance #SaveOnStyle #FashionTreasures #RossFashionFinds #ValueFashion

Really intriguing report (thredUP_2023_Resale_Report) from one of the biggest thrifting platforms in the world, (ThredUp). It's truly astonishing to witness the shift in consumer behavior towards secondhand items. Here are the top 3 consumer data points from the report: 1) 75% of consumers have either shopped for or are open to shopping for secondhand apparel. 2) 83% of Gen Z has either shopped for or is open to shopping for secondhand apparel. 3) 1 in 3 apparel items bought in the last 12 months was secondhand. Consumer trends consistently signal significant business opportunities, and online resale or recommerce presents a substantial opportunity for fashion brands. In fact, online resale is the fastest-growing sector in the U.S. secondhand market. Some noteworthy data from the report includes: 1) Resale is driving the growth of the secondhand market, expected to reach a $57 billion market in the next 10 years, growing faster than any other fashion market (from 3% to 18%). 2) U.S. consumers bought secondhand apparel items in 2022 that they would have normally purchased new, marking a 40% increase from 2021. 3) Fashion faces an overproduction problem, with over 100 billion garments produced globally each year for a population of 8 billion. 4) Retailers with branded resale programs skyrocketed in 2022, with 86% of retail executives reporting that their customers are already participating in resale, up 8 percentage points from 2021. 5) Over half of Gen Z is more likely to shop with a brand that offers secondhand alongside new items, showing a 6-point increase from 2021. Thrifting is not a new trend (Vinted is already 15 years old), but it's evolving into the new normal for younger generations, while fast fashion is projected to remain steady in the coming years. Many brands, especially in the U.S., are effectively managing their secondhand offerings through recommerce channels. This trend is also rapidly gaining momentum in Europe, and at iF returns , we're here to help. #SustainableFashion #SecondhandRevolution