This week, Macy’s Inc. announced it’s closing 28 stores, making it the latest in a long line of retailers and department stores suffering the effects of a volatile retail environment and downsizing. But the company’s other retail subsidiary — Bloomingdale’s — has been one of the more resilient contenders in the retail space, closing one store this week versus dozens and seeing better financial results than competitors like Neiman Marcus.
When Angela Gahng started her direct-to-consumer contemporary womenswear brand Almina Concept in August 2017, she was focused on creating high-quality, essential pieces at a reasonable price point. She wanted to be a step above fast-fashion companies like Zara and H&M but more accessible than some of the more high-end contemporary brands, and thought the only way that could happen was to be strictly DTC.
There has long been a gap between the number of men and women occupying business executive roles. Why is the gap so large? Consider this: women make up just under half of the workforce, but only hold about 25% of senior executive positions at U.S. public companies, according to recent research by Catalyst. Furthermore, only about 5% of the leaders of the S&P 500 companies are women. The gender gap is improving, but it’s happening slowly and there’s still a long way to go.
With about a week left before Christmas and Hanukkah, retailers have the opportunity to simplify holiday shopping by offering a seamless omnichannel and stress-free purchase path. Despite the shortening timeframe before the holidays, retailers still have a chance to appeal to procrastinators with last-minute ideas. Delivery is going to be a key differentiator for retailers, whether it is free shipping on online orders or same-day fulfillment driven by bricks-and-mortar inventory.
We are living through the most dynamic transportation environment in recent memory. The parcel carriers, in particular, are in a state of flux, with large shifts in service offerings, strategic alliances, and rate logic. Change is the byword of the day. This shifting environment means both opportunity and risk, depending on shippers’ ability to develop and implement strategies in response to this change. However, change doesn’t just happen. You, as a transportation leader, are responsible for driving it. Whether it’s in your title or job description or not, you own at least some of the responsibility, and the more ownership you take, the more valuable you will be to your organizational leadership.
As Five Below expands, it is straying from the traditional playbook of a discount chain. Last year, the chain — which, as the name suggests, carries items that sell for under $5 — opened a 10,800 square-foot flagship store on Fifth Avenue in Manhattan. Next year, it will experiment with adding video game lounges to some of its stores, and in October invested in an e-sports startup called Nerd Street Games. That is set to complement a new section Five Below started testing in October in select stores, to carry more electronics that sell for under $10. And it is spending more on television ads and influencer marketing in the lead up to the holidays in order to raise brand awareness.
