An interesting article looks at how H&M is shifting from straightforward retail to a concept store proposition.
The company, which has struggled with growth against the rise of fast-fashion competitors, opened its first iteration of this new-format store in SoHo, New York in February.
The 10,000-square-foot space has a “pre-loved” section of secondhand H&M products. This is a first for an H&M store in North America. It is one, of many changes in the store, designed to create interest for consumers.
In my view, adding secondhand to a store is a good way to add a point of difference. The resale market is on fire right now, so H&M can capitalize on the interest from consumers which might drive a little foot traffic.
However, this isn’t the solution to H&M’s battle with competitors. While resale is great, it won't protect the market share of new H&M lines from erosion. To do that, H&M needs to ensure its core ranges compete on style and value and newness. At the moment, they don't do that as well as they should.
Grateful to have my comments included in this article by Glossy...
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#retail #retailnews #stores #resale #storeexperience
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