nd. This is positive for our store. In fact specialty store growth was up 18%. The following is a question and answer exchange found on Barnard’s Retail Trend Report. It’s contents explain the developing retail trend.Work.com: So, long term, you think the specialty storesmay have an advantage because they are building theirbrand names early on in customer’s lives?Barnard: That is exactly right. The n ext item is also veryimportant. Traditional department stores have historicallymade themselves dependent on fashions, usually upscalefashions, designer fashions. Well, designers are losing lusterand have, indeed, lost a great deal of luster. And, guess whatconsumers are more interested in these days then designeritems? Home-oriented items, things for the home. Americais an aging nation and as we get older, our priorities in lifechange a little bit. We no longer have to be the first on theblock with the latest off-the-wall fashions. We no longer haveto be the kind of people that absolutely have to have thatfamous designer on our derriere or neck.Work.com: Do you think that’s one of the prime factorsin what’s causing shoppers to stray from departmentstores and lean toward the Targets or Kmarts?Barnard: Or the Home Depots, the Bed Bath and Beyonds,the Linen and Things and the William Sonomas and the Crateand Barrels and so forth. They are looking for lower prices. Look at, for example, what happened to Hennes and Mauritz:Beautiful fashions, very attractive, very inexpensive. They’reright on Fifth Avenue and if you are lucky, you can get into thestore without any wait in line outside. It’s a tremendousattraction and that really takes a lot of market share awayfrom department stores.Work.com: To what do you attribute the fact thatconsumers are now OK with not spending so muchmoney?Barnard: Casual is in. And if casual is in, casual is lessexpensive than formal.Work.com: Do you see that changing ...
