Word: retailing
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...National Retail Federation (NRF), the world's largest retail trade association, projects that November and December sales will rise only 2.2% to $470 billion, an increase that would fall well below the 10-year average of 4.4% holiday sales growth and would mark the most sluggish season since 2002, when sales rose only 1.3%. Scott Krugman, NRF spokesman and vice president, says the dismal forecast should surprise no one. "It is surprising that we had a year's worth of bank consolidations on Wall Street in a week, but low consumer confidence isn't," Krugman says. "This was a slow...
...Other experts are even more pessimistic. Archstone Consulting, a retail consultancy based in Stamford, Conn., expects only a 0.5% to 1% sales increase for the holidays. "That's a very low number by historical standards," says Dave Sievers, Archstone's strategy and retail practice leader. "That would really translate into negative per capita growth, because we automatically expect some gains due to inflation and an expanding population, which usually average...
...Even typically profligate teenagers are turning thrifty. A recent nationwide survey of consumer attitudes conducted by WSL Strategic Retail, a New York consultancy, found that out of 750 teens interviewed, 84% say they have been affected by rising prices. Before they ask for something, 56% of teens say they now consider whether their parents will be able to afford it, with 42% stating that they are asking their parents for less. "If teens are exercising more restraint and curtailing what they ask for, that certainly doesn't bode well for holiday shopping," says Candace Corlett, president of WSL Strategic Retail...
When was the last time you heard a guy described as a discerning gentleman? There's an Old World charm to the expression, which is just what the British luxury brand Dunhill is trying to capture in its latest retail outposts in Tokyo, Shanghai and London...
...determined to offer the smart man-about-town motoring accessories: luggage, clocks and watches to time one's speed, even pipes to smoke while driving. According to the company's director of image, Yann Debelle de Montby, today's Homes of Alfred Dunhill, as the brand's new retail establishments have been named, offer something more than just shopping. "Whenever you receive people at your home, you are sharing your secrets and baring your soul. This is our aim," he says. So in Tokyo, a city that fascinated Dunhill, there are not only clothes, gadgets and gizmos for sale...