Keeping Up with Retail Trends
I make it my job to keep up with the latest retail trends so that I can better understand our clients and prospects. The women in my family enjoy Ann Taylor, so I look to see how they are doing every once in a while. The other day I was looking through their annual report and found something very interesting.
This is what Ann Taylor, Inc. had to say about their growth plans, “We understand that the economy invariably goes through cycles. We firmly believe that the manner in which we approach growth and manage our business through these cycles will differentiate us and determine our success in the market over the long term. In this regard, we have planned fiscal 2008 cautiously and realistically, focusing on three key areas-the evolution of our brands and channels, the reduction of our overall cost structure, and the continued pursuit of growth. This approach is designed to enable us to effectively navigate the current environment, while position Ann Taylor as a stronger, leaner Company dedicated to growing the value of your investment year in and year out.”
As one of our senior vice presidents has been known to say and the CEO of Ann Taylor amplifies here… “A good economic downturn is a terrible thing to waste.” It is important for retailers to understand that there is no better time to grow than right now. The successful retailers will take care of that and the others will be out of business.
Posted by Rich Hollander
Tags: customer anayltics, Customer Data, data mining, market optimization, Site Selection
This entry was posted
on Thursday, August 14th, 2008 at 10:00 am and is filed under Retail.
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