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Catherine Moellering on why more people are buying fewer clothes and if it’s hurting the economy
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Welcome back so we have the best retail sales reports in the last October.
Which was fueled by the release that the apple iPhone four yes.
Came here comes the iPhone but we have another pretty -- retail -- -- sticking with that theme.
Let's talk about these new love movement called slow fashion with.
Catherine -- heat EVP of the Tobe Report -- slope that's what is so I really think any.
I don't know I -- -- you.
I'm considered slow slow fast and a slow -- -- is on its Clinton a Tony and a lot physics right for every.
Action there's opposite and equal reaction this is.
That reaction to all of the technology that has made our world so much faster and so much more efficient and says streamlined.
And now consumers are saying -- wait a minute.
I do love all of my technology -- do like all these efficiencies but I'm losing connection -- if the product itself.
I'm starting to feel -- -- just another -- -- basement crowd I want things to be special so this -- man is really building on three key points the first being customization of consolidation consumers really want something that feel.
Unique you know you get your new iPhone and I got a white one and I thought that was very unique and you know everybody has -- so.
All -- and you wanna have a taste for it you wanna have it cleaned out you -- -- have your friends and there's this element of customization and personalization.
The second that's really kind of fun is this idea nostalgia so we seeing -- consumers of all age says.
Starting to react favorably to -- things -- especially in the technology space that.
Are really obsolete when my favorite is.
That a whole new group of younger consumers are rediscovering this.
Crazy thing called a wristwatch which you know is -- -- -- kind of a funny thing.
I am and -- -- -- the tax if you -- someone wearing a wrist watch what time it is.
-- look at their Smart -- Which is that you know the reality is that Smart kinds of really made wrist watch is obsolete but for younger generation who never hot one -- really cool -- really true I think they're there over son watches are really -- he has in the bright colors is there absolutely -- -- exactly to your point it's really now all about fashion it's not about function.
And then the third piece is this whole idea of connection and people whining real connection as opposed -- virtual connection.
And I think that one of the big transit we've seen that underscores his idea connection is the explosion of this online site called -- CE.
-- -- July and it was founded in 2005 it's basically -- community of artists in this.
And it there are now on it.
And as of July -- -- RD beaten last year's sales of 500 million say they're gonna have another record breaking year apparently double and probably double -- yet and they're adding about 800000 new members.
A month and they're adding 2.3 million items unlicensed and clocking in about one point four billion page views so.
Really showing that there's something that's connecting with consumers in this space -- handy -- things that are unique of one of the kinds and.
That's they tell a story can talk to the person exactly good hands -- so what other -- -- cancer therapy in this out this new movement of right well that's the big stuff.
Issue for retailers because how do you make something that is fundamentally about one of -- kind into something that scalable.
And actually something you can make money on my I was like paradise it totally -- and so what -- -- is a lot of different strategies that retailers are employing to try to get.
The most out of this trend and I absolutely hands down one of the ones that I think -- Absolutely brilliant is -- Coach has their legacy line of bags which are phenomenal and what they've just recently.
Released is.
A legacy cat that allows you to change the -- color to change yeah.
You can and actually I'm sixteen different styles nine different colors -- if you do the math you can now come up with a 144 unique combination as you -- idea I -- -- seeing a lot of companies -- to Bob Graham of that exactly and you -- -- -- love that.
No returns -- yes yes.
So -- -- well in the retail world we live that we lot of this idea personalization and I think that there are strategies that can scale it certainly coaches and has done a brilliant job and also taps into this whole movement around.
-- And I think another thing that we're starting to see and anthropology has done has our term bars and I -- charm bracelet.
Said the consumer can -- -- -- get the sense that I'm making something it's sort of crafty.
And they can either make one for themselves and make it as a guest and then make sure you have something that really feels unique and yet there's actually.
A model here where retailer can conceivably make some money -- if people like giving themselves a -- do yourself -- movement content -- things like really late and actually at C has now just launched a separate and on a platform just for weddings because it's been so when it enormously popular I think that's the trend that we're seeing is that on the one hand just as your previous statement -- we don't wanna get up any of the efficiencies that all of this technology is bringing to -- And yet on the other hand it we don't want to lose this ability to have an individual I again a special wedding.
On and I think that's where we're seeing as anything retailers who can figure out how to meet those two and then all.
That I think are really well positioned to leverage these trends here first example is the best you -- and I thought but it's.
Exactly yeah and you know there is discussing -- will be now more Smart friends on the planet but people by the end of -- usually when he CloudSat.
If you're not selling and I -- uncover hate who think it's time to get and again that's currently is that the retailers from me they -- kind of predicting what they thought the new iPhone 5 would look like it in terms of size and -- eighteen.
That covers a range of credit types sixteen -- one that -- would be exam today and how much do we love the fact that there's a new one coming out once a year that seems to be a different size.
Hello everybody needs a new case yeah.
That now do you have anybody making any -- -- covers.
Yep I can guarantee you that there are a lot of great minds right now as we speak out there that announcement we think October 20 or so we have to -- this isn't crazy.
-- environment that -- and I like as -- lowered her fashion movement that -- slope toward the Anglo fashion could become -- -- -- -- -- level coming yet because with the -- room.
Everything being so accessible right.
And fast -- extreme all the time.
I think that this is gonna it in my personal.
Opinion and that I think that we're all gonna slowdown -- -- -- -- texting too much culture is easy.
I agree and I now it's getting an excuse me -- -- we -- None what I think it was sort of funny as you -- people buying.
I'm vinyl records or needing kids.
And so they are -- is not saying this slow movement but nobody wants to stand in line so yeah uninvited and we want.
Some other atlantis' and other things that -- -- -- it can slow but -- this meantime we're not willing to give up expressed check out and that's really.
What makes this indices and they find that -- -- kept reminding you so much for coming on great perspective as always -- T tell you trend you and I love it because I feel like I -- that you and I -- you realize that sometimes.
Anyway thank you so much every day.
