Payless

Fashion Brand Casualties in 2019

Brick-and-Mortar Causalities for 2019

 

If you’re like us, you’re probably sick and tired of hearing about your favorite fashion brands going out of business. Many of you may have heard, Payless ShoeSource is the latest casualty to hit the brick-and-mortar retail sector. We’re pretty bummed to hear the news too! But, we’re actually bummed about the whole subject of fashion brands having to close their doors forever. Payless ShoeSource announced it will be closing all 2,300 of its U.S. stores by the end of May.  Payless joins Sears, Kmart, Gymboree, Toys ‘R’ Us and several other giant retail chains who simply could not keep up in an era where online shopping has become king.

Payless

“Payless didn’t close because they were brick and mortar. They closed because their brand wasn’t on point for the influencer-driven society we live in. Yes, their last campaign of the trending pop-up shop was brilliant but was too little too late. Today’s brick and mortar retail stores stay relevant by creating amazing in-store only experiences that feature their products as well as their customers as the influencers they all want to be.” – Ali Craig, Brand Strategist and host of “Fix My Brand”.

Ali Craig

Ali Craig, Brand Strategist and host of “Fix My Brand” makes a good point. She claims, “Payless didn’t close because they were brick and mortar. They closed because their brand wasn’t on point for the influencer-driven society we live in.”  In the world of influencers where everyone is actually an influencer, its no secret brands are having a hard time staying relevant and keeping sales numbers up.

According to the global market research firm’s recent report this past February, U.S. retailers by then, announced 2,187 closings, up 23 percent compared to this time last year. Those closings include 749 Gymboree stores, 251 Shopko stores, and 94 Charlotte Russe locations as reported in USA Today.

More recently, CNBC reported these closing in early March:

  • Gap announced the closing of 230 of its namesake stores.
  • Victoria’s Secret is planning to close 53 stores in 2019. On average, they have been closing 15 stores per year.
  • Apparel retailer Abercrombie & Fitch Co. said it plans to close up to 40 stores during fiscal 2019.
  • Charlotte Russe is liquidating and closing all of its stores in the U.S., after filing for bankruptcy last February.
  • Chico’s, women’s clothing brand, recently announced they would shut between 60 to 80 stores in fiscal 2019.
  • One of our favorites, J.C. Penney recently said it plans to close 18 department stores, in addition to nine home and furniture shops, in 2019.

Internet sales are consistently improving while brick-and-mortar locations are struggling to stay afloat. Do you have a favorite brand that recently shut its doors for good?  How do you feel about internet shopping vs. in-person shipping?  We’d love to hear from you in the comments below.

 

 

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