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The Roaring '20s are here, according to brands and retailers. In a new Glossy and Modern Retail survey, 62% of brand and retailer workers said their company’s sales are at pre-pandemic levels. Of those, 36% said their sales hadn’t slid at all during the pandemic, and 26% said their sales went down but have since recovered.
So much for staffing up on seasonal store associates. According to a November 2020 Glossy and Modern Retail survey of brand workers, in preparation for this holiday season, brands shifted their resources away from stores to investments that better serve online shoppers. Read more in our latest research brief.
Brands are changing things up this holiday season. In a November survey of 27 Glossy and Modern Retail readers who work for brands, 37% of respondents said their companies will be running promotions for eight weeks or more this holiday season, while just 18.5% said they ran promotions for eight weeks or more in 2019.
Brands and retailers that have struggled to keep their businesses afloat are holding on to the notion that it’s all uphill from here. And, new research indicates that they’re looking to the election to cement hope for a brighter, recession-free future. In an early-October Glossy/Modern Retail survey of 67 brand and retail workers, 38.7% said the economy is a top-three issue that’s most important to them in this election.
As “retail apocalypse” rumors continue to fly, teenagers are reviving shopping centers’ foot traffic. Among the draws are a social experience, immediate gratification, a personal branding opportunity and a much-needed break from their mobile phones.
QVC may still be a dominant player in interactive shopping, but new entrants include app providers focusing on livestreaming shopping and social media companies building out their commerce capabilities.
As more DTC companies face cultural growing pains, Lola's co-founders are trying to build a culture that supports all of its employees.
As shopping moves online and staple retailers increasingly close their doors, developers have been working to revive the draw of the mall. An audacious attempt to reinvigorate the American mall is taking shape in the dreary swamplands of East Rutherford, just outside New York City.
The retailer, first opened by tailor Fred Segal in 1961, had its heyday in the nineties and early aughts, when it became the first to sell Kate Spade and Juicy Couture, and served as a popular haunt of Paris Hilton and the Olsen twins. Though it’s recently faced instability, its growth plans are unprecedentedly ambitious. As its new owner sees it, with today’s consumers craving authenticity, the brand’s reputation is the ultimate foundation.
Amid store closure closures left and right by mass brands from Gap to Victoria’s Secret, malls are being forced to figure it out or face their fate. The former has translated to offering leases customized to emerging brands’ needs (ample perks included), bringing in businesses that deviate far from retail, and giving potential visitors a trip-worthy experience by getting thoughtful about the amenities and ambiance provided.
Fashion resellers do not have access to the same tools and strategies that brands and retailers can employ, like collaborating on a new product or dropping a hyped collection. Instead, they have to turn to other strategies to draw attention and bring in new customers. Celebrity closet sales are one way that resellers are making that happen.
Twitch has proven there is a big market for watching other people play video games, so why not the same for shopping.
Tehmina Haider is the head of Harry's Lab, which both builds new CPG brands as well as invests in and acquires existing ones. Haider described the operation as being a "diversification engine." She joined the Modern Retail Podcast and explained how she's built out the program over the last three years.
Read MoreAt the Modern Retail Marketing Leaders Forum, we’ll bring together senior retail marketers to discuss the challenges they’re facing and the solutions they’re seeking in the era of smarter retail.
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