The apparel retail industry has undergone huge changes during the past few years in the U.S. During this very trying time in our country a recession is happening and we are seeing a decline in spending all over the place. Walmart has seen the only increase in sales, while all other retail stores, and stores alike, continue to see a decrease in sales.
This recession has also taught consumers to be money-conccious and value-conscious, something that will stay with them way after everything turns around. I believe that for apparel to continue to grow at this level, retailers will have to become better at in-store marketing. Not only can the U.S. feel the hurt of sales going down, but countries around us will also feel the hurt; all those places we count on for clothing will also see a decline in money.
Three major forces transforming the apparel retailing in the United States are most like changes related to plus-size, aging, and immigrants, such as Hispanic/Latino consumers. Each force pushes apparel retailers toward a new mentality of defining their customers and making strategic decisions for long-term prosperity.
I believe that apparel retailing in our country is in a bad situation right now, but I do believe the recession will soon be up with the new President, and we can hopefully get right back on track. If not, well, I might need to change my major and think about a new profession.
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