Monday, September 30, 2019
Another One
The retail chain, Forever 21, is bankrupt. It joins more than 5,000 sites that have shut down in 2019. Forever 21 is a victim of online commerce, but it is more than that. The chain made basic mistakes and they caught up with the company. Marketing for retail establishments is more difficult than ever. One has to give a reason to lure shoppers from their homes into a store where selection is never as broad nor deep as it is online. The experience has to be fun and involving. It is hard to design an immersive retail environment. Details count. Hanging merchandise on a rack and cutting prices is not nearly enough. Retail marketers need creativity, an an ever-changing show. More stores will fall into oblivion because they are no longer relevant. At some point the decimation will slow but not before deep pain is inflicted on the retail landscape.
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