As Americans occupy their time at home, whether it is working, attending school, or simply resting. The coronavirus epidemic has led to many pushes to create pockets of comfort in their favorite rooms Have given. And while the retail industry certainly took a setback this year. In many instances, continues to struggle, there are areas that thrive during the epidemic.
Loungewear & Athleisure:
Working from home has become a new norm and, as a result, clothing stores are offering fewer workwear options. A study released this summer by retail data firm Edited revealed that retailers offered 40 per cent fewer women’s work styles this year than in 2019 and 73 per cent of items were eventually offered at the sale price . Men’s options were down 38 percent and offered at a 60 percent discount, a significant jump on the 35 percent of items sold on sale last year.
As retailers hang on to the work-at-home effect by cutting back on their offerings, the impact of the overall sales decline this year has not been as drastic.
With slacks and skirts pushed to the back of the closet, consumers are looking for more casual options that offer professional and casual versatility, like blazers and polo shirts.
The department store JCPNE, which was approved to exit bankruptcy last month after being acquired by Simon Property and Brookfield Asset Management Inc., launched a new women’s brand, Stylus, previously championed comfortably. The rise in popularity of wearing casual clothes could not have happened at a more opportune time for the company as the brand was already in development before the onset of the epidemic.
In a statement to Cheddar, the company said in part, “We started developing the concept of our style banking line, which is exclusive to JCPenney, as a must-have customer dress for their day almost a year ago. The need was to meet. ”
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Earlier this year, athlebiking giants Lululemon saw it record stock hits as demand for casual clothing increased, and in Q3, its sales rose to $ 916 million, more than $ 1 billion at the same time last year.
For JCPenney, the result of a good holiday season following the launch of its new women’s line could mean the rise of similar brands. “In addition to the new and wow brands over the holiday season, we look forward to an exciting 2021 with even more attractive merchandise for all of our customers,” said Jessenny’s communications manager Kristen Bennett. The New & Wow range of department stores has the latest trending products ranging from toiletries to kitchenware.
Wearing comfortable clothes is only half the battle for those working from home and going to school. Creating new and comfortable spaces in which to work has also become a necessity. For office goods retailer Staples, sales have stopped in various categories. Including desks, chairs and white boards, since the onset of the epidemic.
“People have designed the home work space out of cupboards, kitchen tables, corners of their living rooms and basements, and additional bedrooms. We have seen real demand for items that make people feel inspired to be in their home work space Do. Make this change, “Amy Lang, SVP of Strategy and Insight Staples, told Cheddar.
Creating your workspace, according to Lang, is just as important as any other creative expression.
“The energy and investment that people used to make their work clothes and accessories is now focused on setting up their home office. This is where they spend all their time. This is the way they do that for their colleagues Are able to represent themselves and express their individuality, ”
At the competitive office depot, this is a similar story. Sales increased 18 percent in Q3, however, as the series experienced a 9 percent drop in sales year-over-year. Earlier this year, a former depot executive, Steve Schmidt, said the office supply industry was already on a 10 to 12-year decline.
Still, the company seems optimistic: It recently released the results of a survey in which 67 percent of participants said they plan to upgrade to their home working quarters to continue working remotely.
Tech and gadgets
Operating the business from home would not be complete without some technological upgrades. At Best Buy, online sales exceeded $ 3.82 billion, up nearly 174 percent year-over-year. Overall, the company generated a turnover of $ 11.8 billion in Q3.
The company plans to continue offering curbside pickup and online sales to accelerate shipping during the holiday season.
Those sales were not just due to people upgrading their desk chairs or seizing other computer monitors for work; Customers shop for many items including kitchen appliances and laptops. However, the company saw a decline in mobile phone sales.
With the possibility of gadgets at the top of many wish lists this holiday season. Electronics retailers still have to continue to meet the customer’s needs at home.
“Staples’ Lang said,” Noise-canceling headphones are a great idea for the holiday season because they are dual purpose. They reduce distraction while working and learning – but they are also great for entertaining at home. ”
While companies may consider a return to offices with successful administration of COVID-19 vaccines. Interest in upgrading individual in-house spaces is likely to continue for the future.
“Home office is a form of self-expression and people are investing there as before,” Lang said.