Barbara E. Champoux, Esq.
CREW Network


Retail defines how we live, what we do for our health, safety and fun, and for many of us, our careers. Because it is such an integral part of our lives, and is so immediately impacted by Wall Street, Main Street and Cyberstreet, the retail industry is among the most volatile, fascinating and uniquely personal sectors of the economy. As described by Prudential Douglas Elliman’s Retail Division Chairman, Faith Hope Consolo, retail is “close to people’s hearts and constantly evolving and adapting to change.”

Based on a survey of retail industry experts, there is cautious optimism about the industry and its recovery. Described below are several of the emerging trends in retail:

1. Back to Basics

Value – The recent economic turmoil has forced most Americans to significantly reduce spending, and caused consumers to re-assess their budget priorities. Even the most upscale shoppers are hunting for bargains. Initially, this led to the expansion of deep discount stores. As consumers continued to insist on value in their bargain hunting, however, luxury retailers began taking their off-price operations out of the shadows and launching their most aggressive expansion plans in years - offering in their outlets many items currently available at their mainline stores, rather than just discontinued or outdated inventory. Both Saks and Nordstrom are expanding their outlet stores, and Saks is extensively re-branding existing mainline stores to Saks OFF 5th, its discount outlet store.

Inventory – Retailers have learned to more effectively manage their inventory to meet consumer demand, both in terms of volume and in responding to changing consumer demands and preferences. Recognizing the multi-channel nature of today’s consumers, more of their inventory is available via multiple channels (full-line stores, discount outlet, online and catalog).

2. Tech-Tail

Social Media – Seeking more effective ways to use social media to grow sales, operators and retail... Read Full Article