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Macys, the granddaddy of of department stores, recently announced it will be closing 100 of its stores and cutting 10,000 jobs. Smaller stores When stores do remain they will be smaller in size. The average new store build is estimated to be 25% smaller this year than it was a decade ago. Established brands
To learn more about fashion online shopping visit clothing onlinewill also create sub-specialty stores. Chanel announced its first boutique selling only footwear and Saks Fifth Avenue opened its first standalone shoe store. Will stores go away? No, but they will change. According to the 2016 McKinsey Millennial Survey , quality was a top driver of purchasing behavior, something that can often be best determined in person. But that means the role of a store will change to one of showcasing products, so the store footprint will become smaller. Amazon . . .and who? Amazon has moved into fashion in a pretty major way over the past year or so and is adding additional categories, vendors, depth, and breath every week. It is hard for other retailers to compete with Amazon on price and convenience, and Amazon will continue to scale and the price and convenice proposition they offer to consumers will continue to improve (hard to believe!). What are the major trends that retailers will need to tap into to compete? Let me offer two here. Service. The human element. Everything about dealing with a person. The in-person experience.
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Just add items to create a watchlist now: Add Bloomberg News Manish Chandra, founder and chief executive officer of Poshmark Inc. Online fashion marketplace Poshmark Inc. said hackers targeted its systems and
To read more about shopping online visit online shopping for clothesused stolen usernames and passwords to drain funds from some of its user accounts in recent days. The Redwood City, Calif., company, which functions as an online consignment shop, said several hundred active accounts were compromised and the site plans to reimburse anyone who was affected. The 6-year-old startup says it has more than 2.5 million users. We protect the sellers and buyers in all of these circumstances and we stand behind that, CEO Manish Chandra said in an interview Wednesday. Poshmark said there was no breach of its computer systems, but the attackers were using usernames and passwords likely stolen from other websites to sign in and take over Poshmark accounts. Similar attacks have recently targeted users of Skype and other online services. Click to Play This medical device scans your brain on marijuana The BrainBot, a brain-scanning technology developed by tech startup PotBotics, enables physicians to pick a marijuana strain that is most suited for their patients' needs. Also popular on WSJ.com: 1.
For the original version including any supplementary images or video, visit http://www.marketwatch.com/(S(rnrsydaynixa5x55oiibxm45))/story/fashion-site-poshmark-says-hackers-stole-money-from-some-user-accounts-2017-02-22?link=MW_story_latest_news