The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Online consumer spending jumped 20 percent this month through Tuesday in a sign that holiday shopping has started early, according to the Adobe Digital Economy Index.
Purchases totalled $72.2 billion during the period and toys were a key driver, Adobe said in a report released Wednesday on e-commerce trends in the US Underscoring widespread shortages in supply, out-of-stock messages have more than tripled compared with November 2019, before the coronavirus pandemic.
“This surging demand also highlights that even with persistent out-of-stock messages, shoppers are getting comfortable with buying something that may not have been at the top of their list,” Adobe said.
Among the other highlights of the report:
By Brendan Case
Retailers like Target, Walmart, PacSun, Gap and Ulta are kicking off marketing campaigns or sale promotions earlier than ever in an attempt to avoid supply chain woes that could dampen holiday cheer and sales performance.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.