„ Euromonitor at In-Cosmetics 2011: Waiting for the next mega trend

„ Euromonitor at In-Cosmetics 2011: Waiting for the next mega trend

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Additional Information: COSSMA , issue 6/ 2011, page 20
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Euromonitor at In-Cosmetics 2011: Waiting for the next mega trend
Euromonitor bei der In-Cosmetics 2011: Warten auf den nächsten Megatrend
Jon Wright, Euromonitor:
“Department stores are perceived as expensive and there is a staid perception that the product always looks
the same, unlike fashion retailers such as H&M and Zara, where the stock turn is much quicker.” Despite
these setbacks, Wright showed that department stores are fighting back.
For example, JC Penny has taken on board the idea of slow stock turn and staidness but introducing third
party providers, including Sephora. Another US department stores retailer, Macy’s has introduced My Macy’s
into 50 stores which includes a whole new range of products consumers would not have thought of finding in
the store.
Meanwhile, UK based John Lewis is launching an in-store beauty spa concept for mid-earning consumers
and super premium stores, such as Harrods and Harvey Nichols have remained strong. “
Department stores are growing well in China and India and the potential for growth in these regions is high,
especially in China,” said Wright.
Speaking of the future, Wright stressed the importance of innovation for all retail channels. “Quality, brand
and connection with consumers in terms of store base will become increasingly important,” he concluded.