Retail Round-Up: What The Gap is Doing to Turn Things Around, and the Power of Email Marketing
What can The Gap do to change the course of its downwards spiral? As part of the effort to turn things around, the iconic brand hired Wendi Goldman as executive vice president of product design and development. With 25 years of experience and the successful creation of Victoria Secret’s PINK brand, there might be some hope for the declining company. (Fast Company)
Email marketing proves to be super effective for retailers, especially in the apparel industry. With open rates of 72%, it’s no wonder that emails are one of the most effective promotional tools. (eMarketer)
Stores like T.J. Maxx and Wal-Mart are finally seeing quarterly increases after a period of decline. So why are Americans spending more? Lower gas prices is one factor, but convenience is perhaps a more interesting reason for why people are flocking to brick-and-mortar stores: Many retailers are now offering in-store pickup or returns for online purchases. (Fortune)
The departure of Target might shake up the structure of “anchor tenants” in malls across Canada. The disappearance of Target locations could push vacancy rates up by 28%–leaving room for some interesting options. (Financial Post)
Retailers are being very conservative in their outlook for 2015. While holiday season profits in 2014 were up, many companies think Americans will continue to spend cautiously. Even T.J. Maxx lowered their forecast for the year, as increasing their minimum wage could reduce profit. (The Dallas Morning News)
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