Stores Magazine - October 2007 - (Page 112) CONSIDER THIS / LOEB RETAIL LETTER Copyright 2007 by Loeb Associates Inc. Used by permission. Fresh Fashion First BY WALTER LOEB Since the mid-1960s, Nordstrom has held a mid-summer sale of new fashion merchandise, providing its customers with an early look at what will be hot for fall. Brand-new fashion merchandise is offered at sale prices during this Anniversary sale, and then is subsequently returned to regular prices. This annual two-week event involving well-known fashion brands is an early kickoff to the new fall season. This year, the Nordstrom event ran from July 20 to August 6, and again it was very successful. But Nordstrom now has competition. Concurrent to its Anniversary sale, Lord & Taylor held an “Advance Notice” sale, which was called a countdown, with the latest fashion trends at special prices. Not to be out-merchandised, Macy’s checked in with a “First Look” sale that Walter F. Loeb is a New Yorkalso had fall fashions on sale based consultant and member for a limited time. of the NRF board of directors What a great idea to whose newsletter is published change the look of apparel monthly in STORES. departments early and have impressive fall fashion assortments for customers. Whether it is Kate Spade shoes, Kasper suits or Calvin Klein and Kenneth Cole fashions, it reflects the cooperation of all suppliers and designers to make such an event successful. Spotting bestsellers And that is not the only reward: Such events can generate a great benefit for the rest of the season, since bestsellers can be spotted and re-ordered and winning classifications can be expanded to include more styles. This year, for instance, short jackets were a real success and are likely to be seen in more styles, and knits were runaways at some stores. Not every customer is fashion-forward or wants to buy fall merchandise during the heat of July, as Macy’s discovered. In order to make its event successful, Macy’s added extra incentives and special sales. It was the Macy’s West Coast division that had the most successful results, since that customer is much more fashion-forward and alert to new trends. A new attitude I believe these events – during the height of summer clearance season – are exciting and help in transforming a store: they give everyone from associates to store display a fresh start, a new attitude. I know that some retailers hold back on bringing fall merchandise into their stores until the back-to-school season has concluded in early September. By waiting that long, however, store merchants cannot react quickly enough to reorder winning styles or determine a Leadership starts with advance planning, new trend. Leadership starts with advance and I believe that more could be done to expand planning, and I believe that more and promote the season and give customers an opportunity could be done to expand and proto show their fashion savvy mote the season and give customers an opportunity to show their fashion savvy. A generation ago, Milton Petrie brought spring fashions into his 1,700 Marianne, Petrie and Stuart women’s apparel stores during December. His stores sparkled because of the fresh, bright fashions he was showing. He never allowed his stores to look dowdy, and his efforts paid off: Customers responded because they were eager to buy new merchandise. WWW.STORES.ORG 112 STORES / OCTOBER 2007 http://WWW.STORES.ORG
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