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Retail Executives Talk Business Outlook

Retail Execs Sound off on the Economy, Top Trends and Brands That Will Deliver Them for Fall 2024
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With the fall trade show season in full swing, The Atlanta Shoe Market (TASM) has become a must-visit destination for retail buyers looking to gain crucial market intel and view a wide variety of product.

In the weeks before the February event, leaders from some of the country’s top family chains and influential independent stores expressed optimism about the coming season and explained the importance of the show to their businesses.

Overall Outlook: “We are currently in an election year with increased expenses, as well as inflation to contend with. Consumer confidence is low, unemployment is climbing. Overall, this is going to be a very difficult year and you must get back to the basics. Simplify your business model and invest your time wisely. It’s all about your people, so treat them well.”

Buying strategy in Atlanta: “Absolutely focusing on the 80/20 shoes is a must, [where 80 percent of sales come from the top 20 percent of inventory]. A brick-and-mortar retailer cannot afford to lose a core sale based on lack of on-hand inventory. Looking for newness is always part of the game and shouldn’t stop, but investing in core and doubling down on that will need to be the focus moving into the near future.”

Wish for the industry: “Segmentation for our channel will be the biggest thing that I hope I see more of. I know some very influential individuals in big places are thinking about these types of strategies. I hope these executives make the decision to make this a reality. The cost of doing business continues to increase and the only way to combat that is margin through segmentation.”

Advice for retailers: “Independents need to focus on their communities and tap into creating their own trends on social platforms. Give back to the communities that give back to us. If we can all look at what Ugg did this year with influencers and replicate that in a much smaller way, that would be amazing. Focusing on your paid sponsored social stories within your communities will go a long way.”

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