A 2022 McKinsey study found that the quit rate for retail workers is more than 70 percent higher than in other US industries.
A bevy of multibrand retailers will give the clearest view yet on the consumer mindset. That, plus what else to watch for in the coming week.
An opportunity has emerged for multi-brand retailers to drive revenue and own first-party data by creating their own digital advertising arms. But they’ll have to move faster than their competitors for a share of the competitive ad market.
This week, everyone will be talking about Virgil Abloh’s last collection and other Paris Fashion Week highlights, Dior’s massive new store and Nordstrom’s turnaround efforts.
Department stores are investing in private label brands, e-commerce offerings and product collaborations to capture younger consumers, but it remains to be seen if the strategy is working.