Retailers Forum Magazine January 2022 EMAG

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RETAILING NEWS Pandora Chooses Physical Stores Over Amazon JEWELRY brand Pandora, which is a $12.3 billion brand operating 2600 stores globally says that it will be investing in physical stores rather than join e-commerce platforms like Amazon or Farfetch. They feel that they already have an audience and do not need the exposure from those sites and feel that opening the physical stores will connect better with their buyers. WITH over 2600 stores globally, Pandora does around 62 percent of their business at brick-and-mortar stores. This decision to invest more in physical stores is certainly encouraging to all retailers in that realm. Wayfair To Open Three New Physical Stores IN more exciting news for the brick-and-mortar retail scene, Wayfair, one of the largest furniture and home goods sellers in the USA becomes the latest online retailer to expand their physical presence. Wayfair will be making their biggest move ever on expansion as it opens three new stores. At the moment Wayfair’s outlet store in Florence, KY remains closed due to covid and the reopening date is being determined now. THE new stores that are being set will showcase furniture, bedding, housewares and other home items. Shoppers will have the option of having their purchases delivered directly to their homes after making their buys. WAYFAIR had been experimenting with brick-and-mortar stores as far back as 2018 when it opened several pop-up shops followed by a full service store in Natick, MA. That store closed permanently in 2020. The company does over $14.1 billion a year and feels this shift back into physical stores is necessary as shoppers want to touch and feel items before making their purchases. Additionally, shipping from a store is often less expensive than shipping from a warehouse as well as physical sites being a much less expensive way to acquire customers versus digital marketing. THE retail industry has gone through a major shareout over the last couple of years, during which traditional retailers closed thousands of locations. In 2022 we will see retailers open more stores than they close for the first time since 2017, which is quite encouraging for all brick-and-mortar businesses. MOST of the new growth is coming from dollar stores, convenience stores and off price chains, but we have seen that many other retailers are retrenching kike department stores and mall-based apparel chains which are closing fewer stores. Perhaps the end of the brick-and-mortar apocalypse has come. Everything’s Bigger In Texas RETAILERS are heading to Texas in a big way. New clothing, fragrance stores are opening in NorthPark along with the new look of Levi Strauss. The resurgence of retail is on the way and its first stop appears to be NorthPark Mall where many well known top brand retailers are opening shop, including many start-ups who are dabbling in brick-and-mortar and seeking their fortunes at this fast growing mall that has seen a tremendous growth of selling space. Hopefully a sign of the times for us all! For Late-Breaking Industry News Visit: www.RetailersForum.com If It Affects Retailing We Report On It! Page 14 JANUARY 2022 | RETAILERS FORUM MAGAZINE
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Page 1 and 2: etailers VOL. 41 NO. 9 JANUARY 2022
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Retailers Forum Magazine January 2022 EMAG

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