Consumer Attitudes & Behavior

Ascena Retail Group Inc., which operates apparel stores under the Ann Taylor, Loft, Lane Bryant and other banners, on Monday reported fiscal fourth-quarter earnings worse than Wall Street expected and also gave weaker-than-expected guidance for fiscal 2017.   The parent company of Lane Bryant, Ann, Justice and other apparel banners reported net income of $13.8 million, after reporting a loss in the same period a year earlier.  

Although most Americans are still irritated to see holiday items appear in the store alongside Halloween goodies and don’t like stores being open on Thanksgiving, attitudes are beginning to change.   

Chip-based payment terminals seem to be everywhere. But that does not mean they are being used the way they intended.    However, almost a year after the imposed Europay, MasterCard, Visa (EMV) mandate deadline, barely one-third of retailers actually accept chip-based payments, according to an infographic from The Strawhecker Group (TSG).  

Consumers’ new ‘buy now, wear now’ mentality it putting them at odds with retailers, many of whom are already pushing outerwear and other cold weather gear.    

The nation’s improving job market has a down side for the retail industry, particularly as the crucial holiday season arrives.   With the U.S. employment rate declining and minimum wages rising, it’s getting more challenging and more expensive for retailers to attract the best workers, reported CNBC.  

Photo: Brian Cornell
  Target Corp. CEO Brian Cornell made a rousing appeal to the chain’s associates at the company’s annual fall meeting.   "We have 137 days in front of us to turn this into a winning year, to start that second-half rally," he said, the Star Tribune reported.      

Department store retailers are pulling back in the United States, but they are doing just the opposite of the border.   The department store industry is expanding in Canada, the New York Times reported, with several factors driving the growth, including less competition and a stable market.   

Uncertainty among the upcoming presidential election is not dampening holiday sales outlooks.   Indeed, retailers need to be ready to present their holiday best as U.S.-based retail performance over the November through December holiday period is expected to see a 3.2% year-over-year (YoY) lift in sales. This jump is driven partly by a 14.9% increase in YoY sales through digital channels, according to new data from RetailNext.