Blog: Appalling October sales
Leonie Barrie | 7 November 2008
US consumers focused on ‘need and value’ in their purchases in October, which translated into necessities like food and fuel and meant more bad news for apparel and footwear retailers.
Continuing economic turmoil, the global financial fallout from mid-September onwards, and tightening credit markets led to a dramatic drop-off in consumer traffic and spending – and points to an even gloomier outlook for the upcoming holiday season. Even the mild weather in many areas worked against retailers trying to shift cold-weather autumn merchandise like coats and knitwear.
Luxury stores, mall-based specialty apparel stores and department stores continue to be the hardest hit, while discount retailers like Wal-Mart Stores are among the few beneficiaries as some shoppers’ focus on the value message and others trade down from its more expensive rivals.
Many customers, it seems, simply decided to stay away from the stores altogether.
Thanksgiving weekend later this month should mark the start of the holiday shopping frenzy, but with many retailers having already resorted to discounts and sales to spur early buying this likely sets the tone for the rest of the season.
Some pundits are suggesting a retail recovery is unlikely until at least the second half of next year.
Continuing our look at what lies ahead for the apparel industry and its supply chain in 2017, the panel of industry experts consulted by just-style last week tackled likely shifts in the sourcing land...
This week our focus turns to first thoughts from a panel of industry experts consulted by just-style on the challenges and opportunities likely to face the apparel supply chain in 2017, with prospects...
Welcome back after the holiday break, and from the team here at just-style I’d like to wish all our readers a happy and prosperous New Year....
Apparel sourcing is a complex process built on a mix of location, logistics, lead-time, price, compliance, risk and reliability. And it's in a constant state of flux as retailers, brands and manufactu...
- Trump and the apparel industry – Infographic
- $1.7bn package to boost Pakistan clothing exports
- British Brexit plans prioritise tariff-free trade
- Mexico riots hit apparel retailers and shipments
- Outlook 2017 – What next for apparel sourcing?
- Cambodia clothing exports at risk from Brexit
- MAS Holdings planning second industrial park
- Apparel brands urge Bangladesh PM to address wages
- American Apparel to shutter all stores?
- Better compliance "crucial" for Bangladesh growth
- Anti-odour clothing: fresh fashion for an active lifestyle
- Global apparel markets: product developments and innovations, October 2016
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Outdoor performance apparel 2016: A broader perspective
- Global market review of lingerie – forecasts to 2022