FabFitFun’s Post

6 weeks in – what I’ve learnt 6 weeks ago I left my busy Leeds Head Office job and set up JKC – my merchandise planning and consulting business. 6 weeks in here are a few things I’ve learnt.   #  The Linkedin community are a really encouraging and supportive bunch. I’ve had calls with strangers who have generously given me their valuable time to offer advice and encouragement   # Most good ideas come when you are not at your desk. Getting out and about every day is not only good for your wellbeing but also for your business.   #  Many people don’t know what merchandise planning is – “not quite, that’s visual merchandising – more to do with planning and analysis”.   # Explaining the relevance and benefits of retail merchandising to those who have never worked with a merchandiser is tricky. When you know you know!   #  Most people don’t reply to direct messages (I used to be one of those people).  Thank you to those who have.   # Don’t underestimate the power of your existing network. The people who have worked with you know your work and your worth.   There have been a few “down” days and unproductive days but most have been full of new people, businesses and challenges and I’m loving it!   If you are a product business and want to discover the benefits of retail merchandising in a flexible and affordable way, connect with me and we will take it from there.

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Macy’s announced a new strategy that includes a much smaller footprint and an expansion of its luxury and beauty brands.  The department store giant said it is “focusing resources” by closing approximately 150 underproductive Macy’s locations, including some 50 by the end of 2024, and prioritizing investment in approximately 350 “go-forward” nameplate locations and the continued expansion of small-format stores. In October, Macy’s  said it would open up to 30 small-format, off-mall stores through fall 2025, starting in fall 2024. The company plans to focus more on luxury goods by opening about 15 Bloomingdale’s stores and at least 30 Bluemercury stores during the next three years.  Bloomingdale's and Bluemercury have both outperformed Macy's. #commercialrealestate #retailrealestate #macys #bloomingdales #bluemercury #expansion

When I was in the corporate world, I traveled extensively across the Midwest to help open stores for one of your favorite retailers. Even though I didn't have a degree in merchandising, my over five years of hands-on experience in the field proved invaluable. This experience propelled me into a corporate role where I led teams of over 50 visual merchandisers, ensuring stores were meticulously set up according to the planogram and company standards. Despite my expertise, I encountered challenges from some colleagues, particularly women with formal degrees but lacking practical experience. They often dismissed my leadership, believing their credentials automatically made them superior. However, their theoretical knowledge didn't always translate into practical skills like quick decision-making or understanding consumer behavior, which are crucial in retail. From my perspective, qualifications on paper don't always reflect someone's ability to excel in real-world scenarios. It's important not to underestimate individuals who may not have a traditional four-year degree but possess invaluable skills and experience that bring significant value to the table. #retail #fashion #fashionjobs

The recent Macy's announcement they will close 150 stores across the country through 2026 including 50 locations this year, will present an interesting challenge for #salesanalytics. On the one hand those low performing stores should not have all that much impact on sales, but when comps often swing on 2 to 5%, the savvy analyst will need to pay attention. The results will go beyond sales units and dollars as well with inventory on hand dipping below historical norms as well. Then there is the all important door coverage to consider. If a brand was allocating labor to closing doors does one just pocket the savings, or chose instead to invest those dollars into other doors. #beautybusiness #beautyindustry

Macy’s is getting a new, smaller, but more luxurious look designed to turn around the troubled retailer and keep the century-and-a-half old brand relevant to rapidly changing demands from shoppers. First, Macy’s will have to downsize. The company is closing 150 underperforming stores – 50 by the end of 2024 and the other 100 over the next few years. By 2026, it will prioritize its investment in just 350 Macy’s stores, the company announced. Second, the company will focus on its successful Bloomingdale’s and Bluemercury brands – luxury stores that have outperformed the Macy’s brand. It will open more, smaller versions of those stores over the next several years. It is part of a turnaround effort the store is calling a “bold new chapter,” designed to fend off activist investors and boost the company’s moribund stock price and sales. Macy’s and the entire department store sector have been hit on all sides. Department stores have been pressured by the rise of Amazon, the growing strength of discount chains such as TJ Maxx, and online brands.

Check out your nearby mall and notice how quiet it's become. Between online shopping, the popularity of discount stores, and safety concerns, malls aren't the family hangouts they used to be. Loads of companies are scaling down across different markets, and there are various factors at play. Keep an eye on retail trends as we head into the election year!

STORY TIME 📚 After working for a year in pricing at MATCHES, I panicked and applied for a merchandising role within the company because I didn't think I would be able to make a career out of pricing as it was so new to the luxury fashion space at the time. After applying for this role, I was given some advice that has stuck with me up until this day and that was to lean into the niche, BE MORE NICHE! No hate towards Merchandising at all (especially as some of my favourite people work in this area!) BUT I am so glad I didn't go down that route and instead pushed forward with pricing, here we are 12 years later helping businesses improve their pricing strategies and grow their profits. 📈 So, although this image accurately represents me for about a week while I was deciding what to do back in 2013, since then, I have never looked back and so in summary what I would like to say is ; ✨ Niche is GOOD ✨ Be Different ✨ Back Yourself #pricing #ecommerce #marketing #fashion #retail #storytime #niche #business

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