Retail Report
Blacks Retail Report is a free monthly newsletter providing expert information and advice on the current retail market.
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- The Big Picture
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Blacks Retail Report
Luxury Apparel
November 2006
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Table of Contents
The Big Picture
The U.S. economy softened in October, with retail sales falling off slightly. Overall retail sales dipped 0.2% in the month, compared to a 0.8% drop in September, according to U.S. Commerce Department figures.
Despite the declines, economists are feeling positive about consumer spending. Gas price pressures have receded and samestore sales at big retailers have shown steady growth, indicating that consumers will continue to shop through the holiday season.
Looking toward Christmas, a recent survey of retailers showed that two-thirds of respondents expect holiday sales to be as good or better than last year.
Stocking Strategy
The key to a strong Christmas season will be landing enough early holiday and spring goods to keep consumers interested. We've seen a high sell-thru rate on quality fall goods and to continue this trend retailers need to keep their stores stocked with new merchandise.High-end specialty inventory is doing particularly well for our merchants, and we expect sportswear, knits and soft jackets to be the menswear hits this season.
The soft jacket is the fashion statement this winter and it's selling well in both the $300 to $500 price range and the $700 to $1,200 price range.
The most popular styles are semi-constructed, with half-lined shoulders, and feature a variety of zipper variations. In jackets and other apparel items, men are opting for black, grays and muted colors, and are steering away from strong colors or washed out shades. The clean, tailored look is in, even in denim and casual wear.
The popularity of the soft jacket is taking some business from cloth outerwear, but leather outerwear is faring well. In accessories, belts and shoes are selling, but scarves and gloves aren't really moving yet, in part due to the unseasonably warm weather.
Women's Trends
In women's, merchants continue to ride the dress trend, and are stocking up inventory for spring. Short, sequined tunic dresses are everywhere this holiday season, paired with round-toed heels. The ballet flat is also hot, and nobody does it better than luxe French brand Lanvin.Pencil skirts and dressy trousers and heels are popular looks as well, shown, of course, in black. We're not seeing any new momentum in bags - bigger is still better and Bottega Veneta and Fendi are the brands of choice.