Amazon’s Growing Apparel Sales Causing Concern For Department and Mall Stores
Amazon’s growing apparel sales causing concern for department and malls across the country
(firmenpresse) - Historically, the generally accepted belief was that online retailers posed little risk to brick-and-mortar apparel stores whose fitting rooms and promise of instant gratification represented distinct advantages; or so it was thought. But millennials those coming of age early in the new century seem quite willing to delay gratification and to cope with the hassle of returning unwanted merchandise. This valuable demographic group 18 to 34-year-olds accounted for 35% of all online apparel purchases in 2016 according to Slice Intelligence, a research firm focused on online commerce.
Slice reports that Amazon, who leads all other apparel retailers in capturing this attractive demographic segment, garnered a 16.6% share of millennials 2016 online apparel purchases. Thats more than twice Nordstroms 8.1% share; more than three times Old Navy at 5.1%; almost four times that of J.Crew (4.2%); and four and a half times Macys 3.6% share. Demonstrating a serious commitment to the apparel sector, Amazon launched seven private-label clothing brands last year alone. Plus, its reported that the company will soon launch Amazon-branded bras and has an active-wear line in development.
Even worse for department stores and mall-based apparel retailers, Amazon continues to gain momentum in clothing categories. Cowen & Company, a diversified financial services company, projects that Amazons clothing and accessory sales will jump 30% in 2017, while Macys sales, for example, will likely decline 4%. This partly explains Macys decision to close 68 of its 728 stores in 2017. Barring some game-changing development, its likely that online apparel sales will continue to strengthen and Amazon, in particular, will increase its share-of-mind and sales among this next generation of shoppers who exhibit a strong digital-first preference.
Even online-only competitors such as eBay have seen fit to modify policies and practices in attempts to thwart Amazons growing prowess, fueled in part by its popular Prime membership program. Amazon Prime promises free two-day shipping on many purchases and unlimited streaming of movies and TV shows. This week eBay announced plans to guarantee delivery of twenty million items within three days, many for free. In comparison, Amazons Prime membership offers free, 2-day shipping on more than fifty million items.
Notably, two-thirds of eBays orders already ship free and more than three in five arrive within three days. Nevertheless, eBay felt the need to beef up its delivery promises, motivated by research indicating that online shoppers rank having a guaranteed delivery date the number-two decision-making criterion, second only to free shipping. eBay will even offer free returns on items that arrive outside the promised delivery window.
This eCommerce news summary is provided by Butcher Block Co. an online store specializing in [cutting boards](https://butcherblockco.com/cutting-board), kitchen countertops, furniture, equipment and accessories. BBC strives to keep consumers abreast of key trends in online retailing.
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Butcher Block Co.
https://butcherblockco.com
Butcher Block Co.
https://butcherblockco.com
+1-877-845-5597
10448 N 21st Pl Phoenix, Arizona
Phoenix
United States
Datum: 25.03.2017 - 18:59 Uhr
Sprache: Deutsch
News-ID 532405
Anzahl Zeichen: 3228
contact information:
Contact person: Kathleen Grodsky
Town:
Phoenix
Phone: +1-877-845-5597
Kategorie:
Business News
Typ of Press Release: Unternehmensinformation
type of sending: Veröffentlichung
Date of sending: 25/03/2017
Diese Pressemitteilung wurde bisher 433 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Amazon’s Growing Apparel Sales Causing Concern For Department and Mall Stores"
steht unter der journalistisch-redaktionellen Verantwortung von
Butcher Block Co. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
