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Retailers Hold Their Breath as Q4 Sales Emerge
Manage episode 280768261 series 2833598
Konten disediakan oleh Customer Service and Fashion Consort / Joshua Williams. Semua konten podcast termasuk episode, grafik, dan deskripsi podcast diunggah dan disediakan langsung oleh Customer Service and Fashion Consort / Joshua Williams atau mitra platform podcast mereka. Jika Anda yakin seseorang menggunakan karya berhak cipta Anda tanpa izin, Anda dapat mengikuti proses yang diuraikan di sini https://id.player.fm/legal.
2020 has been a year like no other. Fashion retailers were hit especially hard early on by the Covid-19 pandemic. Since then, they have been racing, fighting even, to adapt, evolve and innovate fast enough to save their businesses. Changes that were once part of a long-term strategic plan had to be implemented immediately, often remotely and with less staff. In some cases, this acceleration of change helped to stave overall losses. For some, it even provided an opportunity for brand growth and scaling. But for many it was an acceleration towards insolvency and bankruptcy.
For those who made it pass these initial hurdles, the focus turned to the fourth quarter, the most important season for fashion retailers in terms of overall sales. For most retailers, this meant putting more emphasis on e-commerce, restructuring promotional timelines and realigning direct-to-consumer distribution strategies. For others, this included more drastic measures, such as reconfiguring physical stores to be pick-up only locations, or even “dark stores” or warehouses.
Now, as we near the end of the fourth quarter, retail executives are hoping to see that their efforts have paid off and will provide a foundation with which to rebuild their businesses in the short term, post-pandemic.
Full transcript available at FCNewsBytes.com.
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