Despite retailers desperate attempts at special promotions and sales, consumers are still gripping their purse strings, tightly. "Specialty retailers have been pulling out their entire bag of tricks in the desperate hope of convincing the reticent shopper to spend,” said Catherine Sadler, president of marketing firm Catherine Sadler Group. “But, as we all know by now, it hasn’t worked." With their failed attempts, retailers are now trying out a different strategy by looking for what customers want in this tough economy.
Sadler notes that new items with standout qualities such as J. Crew's high-end line at affordable prices and Anne Taylor's smart move in creating washable clothes will be retailers only hope. According to retail reports, customers want classic items with a twist such as Banana Republic's Tie-Neck Black Dress ($175), Lacoste’s Long Sleeve V-neck Sweater Dress ($165), and Tory Burch's Purple Crinkle Chiffon Blouse ($295) seen above — all of which were reported as current best-sellers.
To find out what sells,
- Versatile pieces that transition from office to evening
- Seasonless fabrics
- Tops that can move from outfit to outfit
- Newness and novelty items that surprises the customer
- Solid price-value relationships