The American retail landscape has changed dramatically over the past few years.
This includes the closure of thousands of brick-and-mortar drugstores, consolidation within the luxury department store ecosystem, and growth across off-price channels.
These changes are set against an environment where many consumers are trading down to navigate inflation or seeking more convenient options online. Ironically, many reports show that younger consumers prefer shopping in-person, which has left brand leaders unsure of the right retail strategy.
This was the topic during this week’s quarterly digital Town Hall meeting. The member-only event was led by Modern Retail and Glossy editor-in-chief Jill Manoff alongside Modern Retail senior reporter Gabi Barkho and Glossy senior fashion reporter Danny Parisi.
“What brands are telling me is that the old rules of retail are out the door,” said Manoff. “We know that consumers are prioritizing convenience, people want things quick. … [While retailers] want brands to show that you’re putting in the effort to be in the store [because] it’s all about the buyer meeting their numbers for the quarter.”
