Why Retail Is Changing

Friday, November 22, 2019

It’s long been known that consumers are no longer shopping retail, especially millennials & gen x. Whilst we value.. Value, we no longer have the resources to pay the retail price. Like, girl’s gotta eat, ya know? We’re constantly on the hunt for a deal, contrary to er, older generations who blame everything on millennials. (rant for another day?)

I think that’s one of the reasons fast fashion has (unfortunately) been so popular because it’s CHEAP (But it’s actually not because we end up spending more in the end.)

Something that I always remember one of my fashion professors saying is that retail is always changing. She like, drilled it into us and for good reason. It is changing, always. Which is one of the reasons why so many once successful brands have now filed for bankruptcy or closed all together. Sears is a great example of this. (or maybe a sad example?)

Their story fascinates me. If you know the history, you know that Sears (back then Sears & Roebuck) was one of the first department stores to have a mail-order catalog. They paved the way for other department stores and catalogs. They stayed pretty consistent over the years as far as popularity, and then somewhere along the way things started going downhill. They couldn’t keep up, and look at them now. Closing stores left and right, filed for bankruptcy… on the way out. So what gives?

You either sink or swim in retail, and you must keep up with demands what consumers want. It's why stores like Amazon are so successful. (albeit problematic) They're not killing retail. They know what retail needs.


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