New data out of the UK has shown that fashion store closings for 2018 are higher than the previous year, and new store openings have slowed significantly. In the US, notable brands like Sears, Victoria’s Secret and Mattress Firm are also feeling the brick & mortar retail squeeze, as shoppers increasingly choose to buy online. As the competition moves online, brands are having to deal with some tough questions. How are they coping?
CPGs and retailers normally have their decision-making processes rooted in the same information available for the non-digital environment and marketplace (brick and mortar retail), but have been pushing partners and new players to provide high quality information for the digital world. McKinsey said it best when they noted that “After lagging behind other sectors with rocketing online sales, consumer-packaged-goods players are at an e-commerce tipping point.”
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