Predictive Analytics Transform Footwear Success
The footwear industry is set to grow by $100 billion by 2027, driven by tech, e-commerce, and wellness trends. However, 79% of new products fail, leading to significant waste. With sustainability regulations like the EU's ESPR, brands must adopt 3D designs and predictive analytics to reduce waste and enhance product success. Embracing sustainability and innovation is essential for the industry's future.
This Week's Retail Rundown:
The Strategic Revival of Abercrombie & Fitch Co.
Abercrombie & Fitch?has rebounded strongly, avoiding rivals' weather and economic issues. Under CEO Fran Horowitz, disciplined inventory management and core assortments boosted 2023 net sales by 16% to $4.3 billion. Their mix of data-driven and intuitive merchandising has revitalized the brand.
Costco Wholesale and GM: Driving EV Adoption Together
GM is using the Costco Auto Program to boost EV sales with special pricing for Costco members.?This partnership?helps GM reach more consumers, offering models like the Chevrolet Equinox and Blazer. Costco's program, which facilitates over 500,000 vehicle sales annually, supports GM's market expansion.
Retail Industry Question
DSW Designer Shoe Warehouse Appoints Sarah Crockett as Chief Marketing Officer
Designer Brands Inc. has appointed Sarah Crockett as chief marketing officer of Designer Shoe Warehouse (DSW), effective June 6. Crockett, formerly with Nature’s Sunshine Products and Dickies, will oversee marketing for DSW's 500 U.S. stores and e-commerce.?
Retail Quote
"The only way to do great work is to love what you do."??
- Steve Jobs | Co-Founder, Apple Inc.
Loving what you do is essential in retail. Passion is what keeps you going. Steve Jobs truly lived and breathed Apple, showing us that when you pour your heart into your work, it can lead to incredible success.
Retail Industry Question | Answer
About First Insight?????
First Insight is the global leader in Voice of the Customer retail solutions, transforming business decision-making through actionable consumer insights and AI. Our platform enables retailers and brands to boost revenues and profitability by informing strategic decisions with consumer data and removing guesswork. Trusted by hundreds of leading retailers, vertically integrated brands, mass merchants, and wholesalers, First Insight leads in optimizing strategy, product, pricing, and marketing decisions.
Visit??www.firstinsight.com?to learn more, or if you're interested in harnessing the power of First Insight's Retail Decision Platform for your business,?let's talk!
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