On Wednesday, March 14, 2018, The Underfashion Club hosted an open discussion at the Harvard Club in New York City with Sidney Morgan-Petro, Senior Retail Editor at the London-based trend forecasting company, WGSN. Morgan-Petro led an exploration of the turmoil in retail stores. Explaining how retailers in the U.S. are dealing with all the dynamic changes in the purchasing patterns of consumers.
To begin, Morgan-Petro shared some interesting statistics affecting retail stores for 2017, including the fact that about 3,000 retail stores had closed that year. Yet during the same year retailers opened over 1,300 more stores than the number closed. There was actual growth in retail. She also stated that in 2017, 42% of retailers have actually added stores, while only 15% have gotten smaller. read more