As we close in on the halfway point of 2017, we wanted to take a look at how the retail landscape is changing. Since 2016, it’s been apparent that it’s no longer business as usual for traditional stores. Facing slumping sales, the quarterly financial reports for the apparel retail sector have read like boilerplate copy, each featuring the same references to changing consumer tastes, slow mall traffic and the online sales surge. And the result of all of this turmoil has been an endless litany of store closing announcements.
While some closures are the result of bankruptcies from which retailers will re-emerge, others will ultimately succumb to the current climate. For the ones that have managed to survive, store closures have been a way for them to create liquidity, bring their fleets in line with consumer foot traffic and focus on their e-commerce businesses. No matter the reason, the exits from malls and shopping centers have created a glut of real estate in B and C locations, while A locations are flourishing with a mix of the best retail tenants and experiential business to act as a draw.
(Read more about how malls are transforming: Don’t Write That Mall Obit Yet)
See how the recent spate of closures has hit the apparel industry, in general, and specific categories, in particular.
Boston Retail Partners uncovers how retailers are trying to deliver true multichannel shopping experiences to meet the consumer demands of the future.Read more
A recent report highlights how transparent, compliant supply chains benefit all aspects of apparel businesses—though only some companies can overcome inherent challenges to reap the rewards.Read more
China is bolstering its AI fleet with robust investments, domestic talent and a desire to dominate the sector in upcoming years.Read more
The Vietnam Textile and Apparel Association has appealed to the Hanoi not to impose import tariffs on polyester fiber.Read more
Though Li & Fung has been working on its new Three-Year Plan to digitize and speed up the supply chain and its evolution to agent 2.0, the business has still hit on hard times as retail wriggles out of its old skin and into a new life.Read more
Simon believes that the mall is a boon for new brands—and its latest pop-up concept could bring consumers back to brick-and-mortar.Read more
Textile Exchange, the global non-profit that promotes the adoption of preferred fibers, integrity and standards and responsible supply networks, has released its largest preferred fibers report ever in the number of participants and areas of coverage.Read more