If almost all of your recent conversations with friends seem to end with, “Everything is so expensive,” you’re not alone. But while consumers are certainly feeling the pinch of rising costs these days, so are retailers.

And fashion brands like Zara have responded by hiking prices, which means passing the costs along to shoppers. But weeks after companies like Macy’s and Foot Locker cautioned the market about weak consumer spending, questions around whether fashion retailers should consider cutting down on prices have arisen.

“We have seen a gradual, steady increase in our Price Sensitivity index for apparel over the past year, suggesting consumers are gradually becoming more willing to walk away from potential clothing purchases because of higher prices,” Kayla Bruun, senior economist at Morning Consult, told Retail Brew in an email, explaining that although apparel prices, for instance, haven’t gone up as much other products, they’ve been on the rise for several years which has made consumers weary of the higher costs for discretionary purchases.

And while luxury remains somewhat insulated from consumers cutting back on spending given the aspirational nature of the brands and a smaller pool of loyal customers, fast fashion retailers could face challenging times ahead.

Keep reading here.—JS

Fa-la-la-la-look at that! It’s Black Friday and Cyber Monday, just around the corner. As every marketer knows, there’s no better time to supercharge your strategies than right here, right now.

Intuit Mailchimp knows this well. That’s why they’re helping brands score some winning end-of-year energy with Marketing Success Season 2023. This free virtual conference equips marketers with brand-building, automation, and personalization game plans.

Join ’em from Oct. 3–5 to boost your bottom line and learn how to get more out of every timely campaign.

Ready to drive some repeat sales? (Of course you are.) Save your seat.

While the internet is buzzing about the Kansas City Chiefs’s tight end and a certain pop star spotted in the stands, we’re zeroing in on retail chiefs and the moves they’ve made in the past month. Here are the ones to know:

• Rosalind Brewer departed her role as Walgreens CEO and board member after less than three years with the retailer, with board member Ginger Graham taking over in the interim.
• Sephora North America announced its chief merchandising officer Artemis Patrick will assume the role of president on October 2 and CEO next April, when the beauty retailer’s current president and CEO, Jean-André Rougeot, retires.
• Bloomingdale’s tapped Olivier Bron, former CEO of Central Group’s Central and Robinson Department Stores in Thailand, as its next CEO. Bron will take over from Tony Spring, who will become Macy’s chief in February.
• Express CEO Timothy Baxter resigned as CEO after four years in the role, replaced by Stewart Glendinning, a former Tyson Foods executive.
• Krispy Kreme promoted Josh Charlesworth, its global president and COO, to the role of president and CEO, effective January 1, assuming the role from Michael Tattersfield, who will serve on the board and as a senior advisor.

Keep reading here.—EC

Dollar General had a rough go of it last week: JPMorgan downgraded its stock rating to the equivalent of “sell.” CNBC’s Jim Cramer told investors to “stay away,” and Bloomberg published an exposé titled “Why Dollar General Might Just Be the Worst Retail Job in America.”

The string of bad headlines came just a few weeks after the company cut its annual profit forecast, even as fellow discounters Dollar Tree and Dollarama appeared to benefit from cash-strapped consumers trading down to lower-cost options.

“It’s kind of an ironic situation,” Christine Short, vice president of research at Wall Street Horizon, told Retail Brew, because “dollar stores are supposed to do well in this environment.”

Keep reading here.—JS