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How are profits won and lost? What investments should take priority? What strategies will bear financial fruit?
The answers to these questions, and more, vary depending on which of the five “archetypes” describes each individual fashion company, according to Deloitte.
“Apparel and discretionary retailers should seek to keep current with consumers and, importantly, understand which aspects of convenience their customers are willing to pay for so they can target their investments accordingly,” wrote the research team who compiled the consulting firm’s report, “A new formula for retail recovery and growth: The five paths to profitability.”
Technology trend-setter
Deloitte defines the “technology trend-setter” as an established brand, omnichannel mass retailer, with value-driven customers and a traditional buy-and-sell model. The profit model is high-volume, targeted algorithmic advertising with white -abel products—generic products manufactured by third parties under different labels—and a...