Americans have different priorities when it comes to their discretionary income. The millennial-driven shopping public today is predisposed to spend more on entertainment and experiences, than on products, one retail analyst says.
it would put the troubled brand out of business, with plans to shutter its roughly 650 stores
Retail analysts say these brands have many of the same challenges facing department stores today. On Tuesday, Kohl’s and JCPenney reported first-quarter earnings that disappointed investors. “We certainly know the rules of engagement have changed,” Cohen said."When you have the same number of retailers competing in a mall space and now add in the internet, it’s retail collision.”
The influence of minimalism, best illustrated by the runaway popularity of Marie Kondo and her message of eliminating clutter, plays a role, as does the persistent trend of activewear and athleisure apparel. “‘Dress for success’ doesn’t exist anymore,” Cohen said. “You’re not building wardrobes today. You’re building memories.”
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