Blog: Value is in style
Leonie Barrie | 25 February 2010
“Regardless of whether the economy is weak or strong, value isn’t going out of style,” The TJX Companies’ CEO Carol Meyrowitz told analysts yesterday.
But her comments, intended to reassure investors that the off-price retailer’s new-found shoppers aren’t going to desert its stores now that the economy seems to be in rebound, will also have struck a chord at the other end of the retail spectrum.
Stephen I Sadove, chairman and CEO of upscale department store retailer Saks Inc, separately told analysts its customers want “service and differentiated products with value” – and that it intends to offer them more designer products at lower prices.
But there’s a big difference between “value” and “value for money” – and it’s the latter that will be key going forward.
Shoppers of the future might be prepared to pay a little bit more for a garment, but they’ll only buy one rather than several of the cheapest versions. And that’s what retailers will have to contend with this year – meaning they’ll have to work a bit harder to secure growth.
Fresh from their disappointment at seeing the Trans-Pacific Partnership (TPP) free trade deal abandoned last month with an executive order by President Donald Trump, the US apparel and footwear sector...
With the ultimate aim of ensuring all the cotton in its products is sourced sustainably, value clothing retailer Primark is adamant that having a business model focused on offering the lowest prices o...
Last week we marked the inauguration of Donald Trump as the 45th president of the United States by taking a closer look at what's at stake for the textile and apparel trade – especially his promises t...
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...
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