Wednesday, October 2, 2019

Forever 21 Needs Older Shoppers to Come Back from Bankruptcy

NREI
The retailer filed for bankruptcy protection on Sunday, and its turnaround plan relies on luring in shoppers who are actually willing to buy clothes at full price -- one of the most elusive clientele in the industry.

These “high spender” customers, as it calls them, would be an attractive antidote to its reliance on deep discounts to attract teen shoppers paying with allowances. But it’s no easy feat for a retailer to change its core business model, especially when even the company’s name suggests it’s not a brand built for mature patrons ages 22 and up.. . . more