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“The State of Fashion 2023” reveals the challenges for apparel this 2023.
side step o Zara have given an account of the decisions they have had to make to face the current economy
The closing of stores like the one that occurred in side step is an indicator of the challenges that exist in retail.
The retail seems to have a new victim and side step It will no longer count the days this 2023 when announcing its closure of stores in a movement that seeks to optimize spending in the face of inflation expected for this year.
The sentence is part of the challenges that “The State of Fashion 2023” discovered for him apparelwhere he found that the majority of those surveyed, 29 percent, considered inflation to be the main challenge in these times.
“A 2022 survey of fashion executives around the world found that the biggest opportunity for fashion retail brands was sustainability. 16 percent of respondents mentioned this field as an opportunity for the industry in the coming year. Inflation and the economic recession were declared as the biggest challenge for the industry for 2023”, he explained. P.Smithan expert in research covering the clothing industry and merchandise in general, when presenting the above study.
new victim in retail
foot locker announced that he lowers the curtains of side stepa chain of stores specializing in the sale of tennis, to incur expenses of up to 18 million dollars by 2023.
The movement of foot lockera well-known chain of sporting goods sales in the United States, stands out because it had established a very important benchmark in the distribution of equipment and fashion items.
Some clues that Foot Locker has given about the closure of its business unit, apart from the millions of dollars it plans to save this 2023, it highlights that with this movement it will be focused on its main lines of business and investing in its business divisions with real potential to grow.
With the announcement, the departure of Andy Graywho assumed the presidency of feet in 2022, so it is a fleeting administration, whose direct control over brands such as Champs Sports Y side stepfailed to save the latter, which, being of German origin, was acquired in 2013, so the outbreak of the health contingency forced Foof to use it as the central channel of its business, a fact that has not been able to prosper by 2023.
This closing leaves a terrible precedent for the retail 2023 is just starting, the year in which the health contingency has led competitors in the segment to stand out for various decisions they have made, as has been the case with zarawhich in the UK launched a platform called Zara Pre-Owned, where users of the same can put up for sale or buy used garments of the brand.
This bet breaks with Zara’s traditional sales scheme, which until now was only based on the sale of new garments that are part of a cycle of fast fashion with which this brand motivated harsh criticism for being a highly polluting maquila process.
Whether it is with the closure of stores or the operation of a store on-line specializing in the sale of used products, the retail It is adapting to drastic changes in consumption, evidently motivated by inflation that has hit the market with radical changes in consumer behavior that are reflected in a contraction of spending and in brands, in an optimization of their investments, that is, both customer and merchant seek to do more with less, as a maxim to conquer the market.
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