The only constant in life is change. This fact is doubly true when it comes to the fickle world of fashion and retail. Fads will come and go as stores open and close. Consumers are always looking for the next hot item. It’s a constant struggle for fashion retailers to stay one step ahead of the curve and know what customers want before they even know. Many retailers are constantly looking for the next fad — which are good for business as they’re fast sellers — just to keep customers happy (think mood rings… Read More
The only constant in life is change. This fact is doubly true when it comes to the fickle world of fashion and retail. Fads will come and go as stores open and close. Consumers are always looking for the next hot item. It’s a constant struggle for fashion retailers to stay one step ahead of the curve and know what customers want before they even know. Many retailers are constantly looking for the next fad — which are good for business as they’re fast sellers — just to keep customers happy (think mood rings or the Silly Bandz).#-ad_banner-# So it’s no wonder that in this Internet era where consumers are much more retail-savvy, traditional retailers are struggling for survival. And this well-known retailer, which has been operating for more than 100 years, is a great example. I’m talking about JC Penney (NYSE: JCP). This once-leading retailer has been struggling to get out hole for a long time. In the third quarter of 2012, despite many business-transformation measures implemented throughout the year, the company still posted a loss of $123 million, after booking a $186 million profit in… Read More