Marshall Cohen
Marshall Cohen
based brands compelling customer formula grow identify produce profitable retailers together unique winning
Retailers need to identify a proprietary winning formula based upon their unique customer base. Ultimately, brands and retailers that grow together are compelling partnerships that produce the most profitable incomes.
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I've seen denim that doesn't get wet, clothes that change color based on exposure to sunlight, even clothes with sun protection built into it. These new-age type products are generally more expensive. The challenge for retailers also will be to get consumers to believe that they work.
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The hurricane will have a far-reaching impact on the tourism business. And New Orleans is all about tourism. It's based on tourism. It will take at least six months before we see any signs of recovery on that front, if not more.
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There are a lot of things that lead towards creating a more harmonious environment. Now the challenge is, can they survive in this new market?
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There are all kinds of products out there that many people just don't know exist.
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This will be a concept that will change the way we look at retail next year. There is no question about it.
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This year, it is more about stores' trying to manage their business, their inventories and markdowns. They're also recognizing a second holiday season, which begins December 26.
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We saw the runway shows start to change as recently as a few years ago. First, designers became avant-garde and did things that were really out there to try to get the media to cover.
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You have to remember that low-income consumers really took a hit in 2005. A lot of them maxed out their credit cards at the beginning of the season and then got their winter energy bills. That probably left them with an absence of cash and discretionary spending later on.
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Best Buy is the new Home Depot. In the '90s, I went to Home Depot once a week looking for home improvements. Now I go to Best Buy every week looking for the latest gadgets.
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Everybody is coming with a road map. They have their circulars, downloaded coupons. It's definitely a race in the first few hours to get the hot products at the best price.
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What happened was the retailers got so infatuated with the young consumer, they ignored their core customer, who is the 35-plus customer.
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What creates fashion purchases is dramatic changes, black to white, short to long.
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Boots are the easiest (fashion accessory) to wear. They're the one thing you just can't mess up.